Key Market Indicators
Hungarian oilseeds consumption is projected to remain stable at around 11,000 metric tons by 2028, unchanged from its 2023 level. This stability in demand has been consistent since 2019. In the global ranking for oilseeds consumption in 2023, Hungary was positioned at number 120, with Finland leading at the same consumption level. The top three countries in this ranking were India, Indonesia, and Brazil. In contrast, Hungarian oilseeds production is expected to see growth. Forecasts indicate that production will increase from approximately 1.24 million metric tons in 2023 to around 1.37 million metric tons by 2028, reflecting a compound annual growth rate (CAGR) of 1.6%. Historical data shows that since 1966, Hungary's oilseeds supply has risen by 1.2% annually. In 2023, Hungary ranked 19th in terms of oilseeds production. Australia was just ahead with a similar production volume. The leading producers were Brazil, Malaysia, and the United States, holding the second, third, and fourth spots, respectively.
