Soybean oil production in Belgium in 2023 stood at 35.12 thousand metric tons. Year-on-year variations indicate a steady growth rate in forecasted values. In 2024, production is expected to rise to 37.09 thousand metric tons, representing a 5.59% increase from the previous year. The upward trend continues through 2025 with 39.18 thousand metric tons, a 5.64% rise. This pattern follows in subsequent years, with 2026 forecasted at 41.23 thousand metric tons (5.23%), 2027 at 43.24 thousand metric tons (4.88%), and 2028 at 45.21 thousand metric tons (4.55%). The compound annual growth rate (CAGR) over these five years is approximately 5.18%.
Future trends to watch for in the Belgian soybean oil market include potential shifts in global trade dynamics, changes in agricultural policy, and technological advancements in oil extraction. Environmental concerns might also influence production practices and demand.
