Based on the soybean supply data for South Korea, estimations for 2024-2028 show a steady increase from 1.62 million metric tons in 2024 to 1.73 million metric tons in 2028. In comparison, the supply in 2023 stood at 1.60 million metric tons. The year-on-year growth is approximately 1.85% between 2024 and 2025, 1.82% between 2025 and 2026, and 1.19% between 2026 and 2027. The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 1.66%.
Future trends to watch for include potential changes in governmental agricultural policies, advancements in farming technology, climate change effects, and trade relationships impacting soybean import and export. Monitoring these factors will be crucial for accurately forecasting future supply dynamics.
