Key Market Indicators
**Nicaragua's Oilseeds Consumption to Plateau by 2028** In a forecast that highlights a steady trend, Nicaragua's oilseeds consumption is projected to remain unchanged at 25,000 metric tons by 2028, matching the consumption levels recorded in 2023. This stagnation indicates a zero percent compound annual growth rate (CAGR) over the five-year period. Since 2019, Nicaragua has seen a modest year-on-year increase of 0.8% in oilseeds demand. In the global ranking of oilseeds consumption for 2023, Nicaragua stood at number 93, with Fiji surpassing it at the same consumption level of 25,000 metric tons. Leading the global rankings were India, Indonesia, and Brazil, occupying the second, third, and fourth positions, respectively. **Nicaragua's Oilseeds Production to Grow by 2028** On the production front, Nicaragua is set to see a modest increase. By 2028, oilseeds production in the country is expected to reach approximately 108,000 metric tons, up from around 98,000 metric tons in 2023. This growth represents an average annual increase of 1.5%. Looking back, Nicaragua has consistently expanded its oilseeds supply, with an impressive annual growth rate of 3.9% since 1966. In 2023, the country ranked 83rd globally in oilseeds production, with Cambodia slightly ahead at the same production level of 98,000 metric tons. Dominating the upper echelons of the global production rankings were Brazil, Malaysia, and the United States, holding the second, third, and fourth spots, respectively.
