Key Market Indicators
Cuban oilseeds consumption is projected to decline to 43,000 metric tons by 2028, down from the current 55,000 metric tons in 2023. This represents an annual decrease of approximately 3.7%, according to recent data. Since 2019, the demand for oilseeds in Cuba has fallen by an average of 2.4% each year. As of 2023, Cuba ranks 62nd in global oilseeds consumption, having been overtaken by Jordan. The leading countries in oilseeds consumption are India, Indonesia, and Brazil, occupying the second, third, and fourth positions respectively. On the production side, Cuban oilseeds output is expected to drop to 6,740 metric tons by 2028, a decrease from 8,000 metric tons in 2023. This marks an annual decline of approximately 2.7%. Historical data shows that since 1966, Cuban oilseeds production has consistently decreased by 2.7% each year. In the 2023 rankings, Cuba stands at 133rd place, with Equatorial Guinea surpassing it with an output of 8,000 metric tons. The top spots in oilseeds production are held by Brazil, Malaysia, and the United States, ranking second, third, and fourth respectively.
