The forecast for the import of refined soybean oil to Canada indicates a declining trend from 2024 to 2028. Values are projected to decrease from 14.0 million kilograms in 2024 to 9.173 million kilograms in 2028. This represents a consistent year-over-year decrease, averaging a compound annual growth rate (CAGR) over five years that denotes a steady contraction in imports.

Future trends to watch for include:

Shifts in domestic production strategies and policies in Canada, potentially affecting import needs.
International price changes and supply chain stability in the soybean oil market.
Changing consumer preferences towards alternative oils or dietary fats.
Innovations in oil refining processes that might alter the volume of imports required.