In 2023, the soybean supply in the Philippines stood at 210.0 thousand metric tons. From 2024 onwards, forecasts indicate a consistent upward trend in soybean supply with values reaching 212.0 thousand metric tons in 2024 and gradually increasing to 223.0 thousand metric tons by 2028. This demonstrates a steady annual growth over the forecasted period.
- Year-on-year variations highlight slight increases: - 2024: +0.95% - 2025: +1.41% - 2026: +0.93% - 2027: +1.38% - 2028: +1.36%
- The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately 1.27%, reflecting stable incremental growth each year.
Future trends to watch for include potential impacts of climate change on agricultural yields, import-export policies affecting supply, and shifts in domestic demand influenced by economic factors and dietary changes. Monitoring these variables is essential for anticipating significant deviations from the forecasted growth pattern.
