Key Market Indicators
Namibia's oilseeds consumption is projected to maintain a steady level, reaching approximately 1,000 metric tons by 2028, the same as in 2023. This indicates no change in the compound annual growth rate (CAGR). Since 2019, Namibian demand for oilseeds has shown no significant fluctuation. As of 2023, Namibia ranked 145th globally in oilseeds consumption, with the Maldives slightly ahead at the same consumption level. Leading the global rankings are India, Indonesia, and Brazil, occupying the second, third, and fourth spots respectively. In contrast, Namibia's oilseeds production is expected to decline, decreasing from 116 metric tons in 2023 to around 88 metric tons by 2028. This represents an average annual decrease of 4.3%. The country's oilseeds supply has been on a downward trend since 1991, with an annual reduction rate of 4.5%. In 2023, Namibia was positioned at 172nd place in terms of oilseeds production, with Mauritius slightly ahead, also producing 116 metric tons. Globally, Brazil, Malaysia, and the United States held the second, third, and fourth ranks in oilseeds production, respectively.
