In 2024, the forecasted distribution of soybean oil in Brazil stands at 11.3 million metric tons. This marks a growth trajectory compared to the previous years where the actual figures for 2022 and 2023 can provide a benchmark. For 2025, the value is predicted to rise to 11.61 million metric tons, representing a year-on-year increase of approximately 2.74%. In 2026, this trend continues with a forecasted value of 11.91 million metric tons, showing a year-on-year increase of around 2.58%. The upward trend is further confirmed with the forecasts for 2027 and 2028 with values of 12.21 and 12.5 million metric tons respectively, highlighting year-on-year growth rates of approximately 2.52% and 2.38%.
From a longer-term perspective, analyzing the compounded annual growth rate (CAGR) from 2024 to 2028, the distribution of soybean oil is expected to exhibit a CAGR of approximately 2.27%.
Trends to Watch:
- Growing demand from the food industry as consumer preferences shift towards healthier oils.
- Potential policy changes affecting agricultural production and export tariffs.
- Technological advancements improving yield and processing efficiency, impacting overall volume.
- Environmental factors and climate change influencing agricultural output.
