Key Market Indicators
Singapore's oilseeds production dropped significantly in 2023, recording a decrease of approximately 22% from the previous year. The country's output fell to 7 metric tons, down from 9 metric tons in 2022. This decline is part of a longer-term trend, with Singapore's oilseeds supply decreasing by around 15% annually since 1966. The drop in production has affected the country's global standing, placing it at number 180 in the world rankings for 2023. In a notable shift, the British Virgin Islands surpassed Singapore, also producing 7 metric tons of oilseeds. On the international stage, Brazil, Malaysia, and the United States held the second, third, and fourth positions, respectively, in oilseeds production.
