Between 2014 and 2023, India's soybean oil processing volume exhibited considerable fluctuations. From a peak of 214.0 thousand metric tons in 2015, there was a decrease to 171.0 thousand metric tons by 2023, reflecting a general downward trend. Significant declines were observed in 2017 and 2018, with year-on-year reductions of -10.29% and -4.92%, respectively. The compounded annual growth rate (CAGR) over the last five years has been -0.35%. In the upcoming five-year forecast ending in 2028, the CAGR is expected to be -0.72%, indicating a continuation of the downward trend.
Future trends to watch for include:
- Potential technological advancements in soybean oil extraction and processing efficiency.
- Changes in domestic demand driven by dietary shifts and health trends.
- Impact of international trade policies and global price fluctuations on soybean oil imports and exports.
