Key Market Indicators
Canadian oilseeds consumption is projected to climb to 267,000 metric tons by 2028, up from 264,000 metric tons in 2023. This represents an average annual growth rate of 0.2%. Since 2019, demand for oilseeds in Canada has increased by 0.5% each year. In 2023, Canada ranked 30th in oilseeds consumption, with Malaysia overtaking it at 264,000 metric tons. Globally, India, Indonesia, and Brazil occupied the second, third, and fourth spots, respectively. On the production front, Canadian oilseeds output is expected to reach 10.4 million metric tons by 2028, rising from 9.6 million metric tons in 2023. This marks an average annual growth rate of 1.4%. Since 1966, Canada's oilseed supply has seen a yearly increase of 0.6%. In 2023, Canada held the eighth position in oilseeds production, surpassed by Argentina at 9.6 million metric tons. Internationally, Brazil, Malaysia, and the United States ranked second, third, and fourth, respectively.
