Key Market Indicators
Colombian oilseeds consumption is projected to decline to approximately 170,000 metric tons by 2028, down from 175,000 metric tons in 2023. This represents an average annual decrease of 0.5%. The demand for oilseeds in Colombia has been on a slight decline, falling by an average of 0.1% annually since 2019. As of 2023, Colombia ranks 38th globally in oilseeds consumption, with Bangladesh surpassing it at 175,000 metric tons. Leading the global rankings are India, Indonesia, and Brazil, occupying the second, third, and fourth positions, respectively. In contrast, Colombian oilseeds production is on an upward trajectory. The country's output is expected to reach around 2.55 million metric tons by 2028, up from 2.18 million metric tons in 2023, marking an average annual growth rate of 2.5%. Colombian oilseeds supply has been increasing consistently, with an average annual growth rate of 3.4% since 1966. In 2023, Colombia ranked 14th in oilseeds production, with Romania slightly ahead at 2.18 million metric tons. Brazil, Malaysia, and the United States hold the second, third, and fourth spots in production, respectively.
