Key Market Indicators
North Korea's oilseeds consumption is projected to decline to 63,000 metric tons by 2028 from 65,000 metric tons in 2023, marking a 0.3% annual decrease. This follows a consistent trend since 2019, where demand has been falling at the same rate each year. In the global ranking of oilseeds consumption, North Korea placed 58th in 2023, with Poland slightly ahead at 65,000 metric tons. Leading the rankings were India, Indonesia, and Brazil, occupying the second, third, and fourth spots, respectively. On the production front, North Korea is expected to see a more significant drop. Oilseeds production is anticipated to fall to 31,650 metric tons by 2028 from 39,210 metric tons in 2023, translating to an average annual decrease of 3.4%. Despite this recent decline, North Korea's oilseeds supply had been growing significantly, with a 6.8% annual increase since 1966. In 2023, North Korea was ranked 102nd in production, having been overtaken by Vanuatu at 39,210 metric tons. The top producers in this category were Brazil, Malaysia, and the United States, which held the second, third, and fourth positions, respectively.
