Key Market Indicators
China's oilseed consumption is projected to rise to approximately 15.8 million metric tons by 2028, up from about 15.4 million metric tons in 2023. This represents an average annual growth rate of 0.5%. Since 2019, China's oilseed demand has increased by 0.4% each year. In the global ranking, India, Indonesia, and Brazil hold the second, third, and fourth positions, respectively. On the production front, China's oilseed output is expected to reach around 18.9 million metric tons by 2028, up from approximately 18.1 million metric tons in 2023. This marks an average annual growth rate of 0.7%. Since 1966, China's oilseed supply has been growing at an annual rate of 1.2%. In 2023, China ranked fifth in global oilseed production. The United States led the ranking with a production volume equal to China's 2023 output of about 18.1 million metric tons. Brazil, Malaysia, and the United States occupied the second, third, and fourth positions, respectively.
