Based on the provided forecast data, the soybean oil import in the Philippines is expected to increase steadily from 61.0 thousand metric tons in 2024 to 64.0 thousand metric tons by 2027, before stabilizing at this level through 2028. Notably, there is a year-on-year increase of approximately 1.6% to 1.7% until 2027. The compound annual growth rate (CAGR) over the forecasted period from 2024 to 2028 is around 1.2%.
In 2023, the soybean oil import volume stood at 60.0 thousand metric tons. Future trends to watch include potential shifts in domestic soybean oil demand, changes in global soybean oil prices, and any alterations in trade policies or agreements that could affect import levels.
