Key Market Indicators
Guatemalan oilseed consumption is projected to decline slightly, reaching approximately 59,000 metric tons by 2028, down from around 60,000 metric tons in 2023. This represents an average annual decrease of 0.3%. Since 2019, the country's oilseed demand has been gradually declining by about 1% per year. In 2023, Guatemala ranked 60th globally, with Chile surpassing it at 60,000 metric tons. India, Indonesia, and Brazil held the second, third, and fourth positions, respectively. On the production front, Guatemala's oilseed output is expected to grow significantly. By 2028, production is forecasted to reach approximately 1,069,000 metric tons, up from about 886,000 metric tons in 2023. This translates to an average annual growth rate of 3%. Since 1966, Guatemalan oilseed production has been on an upward trend, increasing by an average of 3.9% annually. In 2023, the country was ranked 27th in global production, with Ghana just ahead at 886,000 metric tons. Brazil, Malaysia, and the United States occupied the second, third, and fourth spots, respectively.
