The soybean oil market size in North Korea stood at 98 Thousand Metric Tons in 2023. Analysis of the historical data indicates a fluctuating trend, with a notable dip in 2020 to 93.1 Thousand Metric Tons followed by a recovery back to 98.0 Thousand Metric Tons from 2021 to 2023. Year-on-year variations reveal periodic declines and minimal growth, with an average annual growth rate (CAGR) of -0.2% over the last five years.
Future projections suggest a continual slight decline, predicting the market size to reduce to 97.3 Thousand Metric Tons by 2028. The anticipated 5-year CAGR from 2024 to 2028 stands at approximately -0.1%, signaling a marginal but consistent reduction.
Future trends to watch for:
- Potential policy changes affecting agricultural output and import regulations.
- Shifts in domestic consumption patterns related to dietary changes.
- Impact of international sanctions or diplomatic relations on trade.
