Key Market Indicators
Indonesian oilseeds consumption is projected to decrease slightly over the next five years. By 2028, consumption is expected to reach approximately 5.7 million metric tons, down from 5.8 million metric tons in 2023, representing an average annual decline of 0.3%. Despite this projected drop, Indonesian demand has shown a slight upward trend since 2019, increasing by 0.3% year on year. In 2023, Indonesia ranked third globally in oilseeds consumption, with India leading at 5.8 million metric tons. Following India and Indonesia, Brazil held the fourth position. In contrast, Indonesian oilseeds production is set to experience significant growth. By 2028, production is expected to rise to nearly 75 million metric tons, up from 64.5 million metric tons in 2023. This translates to an average annual growth rate of 2.4%. Since 1966, Indonesian oilseeds supply has increased at a robust annual rate of 3.3%. In global production rankings, Brazil, Malaysia, and the United States followed Indonesia, occupying the second, third, and fourth positions, respectively.
