Key Market Indicators
Benin’s oilseeds consumption is projected to remain steady, reaching approximately 111,000 metric tons by 2028, identical to its 2023 figure. This stagnant trend reflects a compound annual growth rate (CAGR) of zero percent. Since 2019, the country's demand has declined by 0.5 percent annually. In 2023, Benin ranked 47th globally in oilseeds consumption, with Iran surpassing it at the same consumption level of 111,000 metric tons. Leading the rankings are India, Indonesia, and Brazil, occupying the second, third, and fourth positions respectively. In contrast, Benin's oilseeds production is on an upward trajectory. The country's output is expected to increase to around 471,000 metric tons by 2028, up from approximately 403,000 metric tons in 2023. This marks an average annual growth rate of 2.5 percent. Historically, since 1966, Beninese oilseeds supply has grown by 3.1 percent each year. As of 2023, Benin ranked 48th in global oilseeds production, with Egypt taking the lead at the same production level of 403,000 metric tons. Brazil, Malaysia, and the United States follow closely, ranking second, third, and fourth respectively in global production.
