Key Market Indicators
Oilseed production is projected to climb to 671,000 metric tons by 2028, up from approximately 622,000 metric tons in 2023. This marks an average annual growth rate of 1.2%. Historically, the sector has seen an average year-on-year increase of 1.5% since 1966. In the global rankings for oilseed production in 2023, the country held the 35th position, with South Africa slightly ahead, also at around 622,000 metric tons. Leading the pack, Brazil secured the top spot, followed by Malaysia and the United States in second and third places, respectively.
