In 2023, the UK's import of refined soybean oil stood at 85.455 million kilograms. The forecast from 2024 to 2028 shows a gradual increase, reaching 87.34 million kilograms by 2028. Analyzing the year-on-year variation reveals consistent growth, with increments of approximately 0.575 million kilograms annually. The cumulative average growth rate (CAGR) over this period indicates a modest upward trend, emphasizing a stable demand forecast for refined soybean oil in the UK.
Future trends to watch for include:
- Potential shifts in trade policies post-Brexit that could impact import levels.
- Changes in consumer preferences towards alternative oils affecting demand.
- Global soybean production fluctuations influencing supply and prices.
