Key Market Indicators
Brazil's oilseeds consumption is projected to decline to approximately 2.4 million metric tons by 2028, down from about 2.6 million metric tons in 2023. This represents an average annual decrease of 1.5%. Since 2019, the country's demand for oilseeds has consistently fallen by the same rate each year. In 2023, Brazil ranked fourth globally, with Indonesia slightly ahead at around 2.6 million metric tons. The top three countries in this category were India, Indonesia, and Brazil. On the production front, Brazil's oilseeds output is expected to climb to nearly 29.5 million metric tons by 2028, up from roughly 25.7 million metric tons in 2023. This translates to an average annual growth rate of 2.2%. Since 1966, Brazil's oilseeds supply has increased by 2.4% annually. In 2023, Brazil was the world's second-largest producer, with Indonesia leading at the same production level of 25.7 million metric tons. Following Brazil were Malaysia and the United States, ranking third and fourth, respectively.
