The soybean production in the Philippines is forecasted to see a declining trend from 2024 to 2028. In 2023, actual production stood at 540 metric tons. From 2024 onwards, the forecasted data shows a steady decrease:
- 2024: 513.03 metric tons
- 2025: 486.84 metric tons
- 2026: 461.16 metric tons
- 2027: 436 metric tons
- 2028: 411.35 metric tons
Year-on-year, the variation in soybean production shows a continuous decline. In 2025, production is expected to drop by approximately 5.1% from 2024. The projected decline continues with a 5.3% decrease from 2025 to 2026, a 5.4% drop from 2026 to 2027, and a 5.7% decrease from 2027 to 2028. Over the last two years, the average annual decrease stands at 5.5%. The compound annual growth rate (CAGR) over the five-year forecast period is expected to be around -6.4%.
Future trends to watch for include potential impacts of climate change, shifts in agricultural policy, advancements in farming technology, and changes in global soybean markets, which could influence local production. Monitoring these factors will be essential to understand long-term trends and plan effectively.
