In 2023, Indonesia's soybean oil production stood at 540.0 Thousand Metric Tons, a 1.31% increase from the previous year. Over the last two years, the year-on-year variations have shown minor fluctuations, with a 1.31% increase in 2023 and a 1.14% increase in 2022.
Analyzing the variations over a longer period, from 2014 to 2023, we see fluctuations, with notable increases in 2015 (11.68%) and 2018 (14.88%), and declines in 2016 (-3.14%) and 2017 (-1.3%). The compound annual growth rate (CAGR) over the past five years was moderate at 0.57%.
Looking ahead, the forecasted CAGR for the next five years is projected at 0.93%, indicating a potential growth rate of 4.75% by 2028. Future trends to watch for include changes in global demand, impacts of climate change on agricultural output, and advancements in production technology.
