The soybean oil market size in Argentina was stable at 116,000 metric tons in 2023, with no year-on-year change. Over the years, the market has shown fluctuations, with the most significant decline occurring in 2020 at -17%. However, a recovery was seen in 2021 with a 21.53% increase. The Compound Annual Growth Rate (CAGR) over the last five years stands at -0.34%, indicating a slight overall decline.
From 2024 onwards, the market is forecasted to grow marginally, with a CAGR of 0.12% over the next five years, reaching 116.91 thousand metric tons by 2028, amounting to a total projected growth rate of 0.58% during this period.
Future trends to watch for:
- Impact of global economic conditions on agricultural exports.
- Technological advancements in agricultural practices.
- Fluctuations in global demand for soybean oil.
- Government policies affecting agriculture and trade.
- Environmental and sustainability initiatives influencing production.
