Key Market Indicators
Sri Lankan oilseeds consumption is projected to reach approximately 1.6 million metric tons by 2028, up from around 1.58 million metric tons in 2023, reflecting a modest annual growth rate of 0.1%. However, since 2019, the country's demand for oilseeds has seen a slight annual decline of 0.1%. In 2023, Sri Lanka ranked eighth globally in oilseeds consumption. Nigeria led with a comparable figure of 1.58 million metric tons, while India, Indonesia, and Brazil occupied the second, third, and fourth positions, respectively. On the production front, Sri Lanka's oilseeds output is expected to rise to about 344,610 metric tons by 2028, up from 329,780 metric tons in 2023, growing at an average annual rate of 0.7%. Historically, since 1966, the country's oilseeds production has recorded a steady annual increase of 2.9%. In the global ranking for 2023, Sri Lanka stood at the 51st position, with Ethiopia surpassing it with the same production volume of 329,780 metric tons. Brazil, Malaysia, and the United States ranked second, third, and fourth, respectively, in oilseeds production.
