Key Market Indicators
Panama's consumption of oilseeds is projected to reach 26,000 metric tons by 2028, up from 25,000 metric tons in 2023. This marks an average annual growth rate of 0.8%. Since 2019, the demand for oilseeds in Panama has consistently risen by the same rate of 0.8% each year. In 2023, Panama was ranked 93rd in oilseed consumption globally, with Croatia surpassing it, recording the same 25,000 metric tons. Leading the global rankings, India, Indonesia, and Brazil occupied the second, third, and fourth positions, respectively. On the production side, Panama is expected to see a decline. Oilseeds production is forecasted to drop to 4,650 metric tons by 2028 from 6,930 metric tons in 2023. This represents a compound annual growth rate (CAGR) of -6.3%. Historically, since 1966, Panama's oilseeds production has decreased by an average of 6.8% per year. In 2023, Panama ranked 135th in oilseed production worldwide, with Eritrea just ahead, also producing 6,930 metric tons. Brazil, Malaysia, and the United States were ranked second, third, and fourth in global oilseeds production, respectively.
