The UK’s import of refined soya-bean oil is projected to decrease steadily from 61.564 million kilograms in 2024 to 59.045 million kilograms by 2028. This forecast signifies a year-on-year decline. If we evaluate the broader picture, there is an evident trend of declining demand or reduced reliance on this import. As a context, the import volume stood at about 62 million kilograms in 2023, indicating a continued downward trend.
Future trends to watch for include:
- Changes in UK dietary preferences potentially leading to lower oil consumption.
- Policy shifts towards renewable energy usage influencing import volumes.
- Potential economic shifts post-Brexit affecting trade relations with soy-producing countries.
