Key Market Indicators
Thailand’s consumption of oilseeds is projected to reach 795,000 metric tons by 2028, rising marginally from 794,000 metric tons in 2023. This represents a negligible annual growth rate of 0%. Since 2019, the demand for oilseeds in Thailand has seen a slight increase of 0.1% each year. In 2023, Thailand was ranked 12th globally for oilseed consumption, with Myanmar edging ahead at 794,000 metric tons. Leading the rankings, India, Indonesia, and Brazil occupied the second, third, and fourth positions, respectively. On the production front, Thailand is expected to see a more significant increase. Oilseed production is set to climb to 4.9 million metric tons by 2028 from 4.3 million metric tons in 2023, marking an average annual growth rate of 2.3%. Since 1966, the country's supply of oilseeds has consistently grown, averaging an annual increase of 3.7%. In 2023, Thailand also ranked 12th in oilseed production, with Nigeria slightly ahead at 4.3 million metric tons. Brazil, Malaysia, and the United States were the top producers, occupying the second, third, and fourth positions, respectively.
