The usable production of soya in Türkiye exhibited significant fluctuations between 2016 and 2023. The production saw a decline in 2017 by 15.24% from the previous year, followed by stable levels in 2018. A gradual increase began in 2019, continuing through to 2023, where it stood at 220 thousand metric tons. The year-on-year growth rate in 2023 was 8.37%, indicating steady gains. Over the last five years, the compound annual growth rate (CAGR) averaged at 12.62%, suggesting a robust upward trend.
Future trends to watch for include:
- Projected annual growth rate slowdown with a forecast CAGR of 2.6% from 2024 to 2028.
- Total projected growth from 2024 to 2028 reaching 13.68%, reaching an estimated production of 266 thousand metric tons in 2028.
- Potential market adjustments influenced by global economic conditions and local agricultural policies.