Soybean oil production in Saudi Arabia is forecasted to steadily increase over the coming years. Starting at 128.48 thousand metric tons in 2024, production is expected to rise to 142.61 thousand metric tons by 2028. To provide context, in 2023, the production stood at 124.90 thousand metric tons. Year-on-year variations indicate a consistent growth trajectory with increases of approximately 2.83% and 2.71% over the last two years. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is projected to be around 2.63%.
Future trends to watch for:
• Technological advancements and innovations in agricultural practices that could enhance yield.• Government policies and incentives aimed at boosting domestic production.• Global market dynamics, including demand fluctuations and price volatility.• Environmental factors and sustainability measures impacting soybean cultivation.
