Key Market Indicators
Barbados' oilseeds consumption is projected to remain stable at 4,000 metric tons by 2028, maintaining the same level as in 2023, according to recent data. This steadiness in demand has been a trend since 2019. In the global ranking for 2023, Barbados holds the 131st position, with Uzbekistan slightly ahead, also at 4,000 metric tons. Leading the list are India, Indonesia, and Brazil, occupying the second, third, and fourth spots respectively. On the production front, Barbados is expected to see a modest increase. Oilseeds production is set to rise from 332 metric tons in 2023 to approximately 365 metric tons by 2028, marking an average annual growth rate of 1.5%. Historically, since 1966, Barbadian oilseeds production has experienced a gradual increase of 1.1% annually. In 2023, Barbados is ranked 166th globally in oilseeds production, with Niue surpassing it at 332 metric tons. The top producers in this category include Brazil, Malaysia, and the United States, holding the second, third, and fourth positions respectively.
