The forecast for the import of soya beans to Canada, expressed in million US dollars, indicates a steady increase from 2024 to 2028, starting at 311.85 million USD in 2024 and reaching 347.23 million USD by 2028. In 2023, the actual data stood at a comparatively lower point, which underscores the projected growth trend. The year-on-year growth reveals a consistent upward trajectory, with notable annual increments. Over the five-year span, the compound annual growth rate (CAGR) suggests a stable and gradual increase in imports.
Future trends to watch for:
- Potential changes in Canada's agricultural policies that may impact import demand.
- Global market dynamics affecting the supply and pricing of soya beans.
- Developments in domestic production that could alter import needs.
- The impact of climate change on global soya bean supply chains.
