Key Market Indicators
Armenia's oilseeds consumption is projected to maintain its current level, reaching approximately 4,000 metric tons by 2028, the same as in 2023. The demand has shown no significant change since 2019. In the latest rankings for 2023, Armenia held the 131st position, with Swaziland slightly ahead at 4,000 metric tons. Leading the global consumption rankings are India, Indonesia, and Brazil, occupying the second, third, and fourth spots respectively. In contrast, oilseeds production in Armenia is expected to see a modest increase. By 2028, output is anticipated to rise to around 115 metric tons, up from 103 metric tons in 2023, marking an average annual growth rate of 1.8%. Historical data since 2004 reveals a decline, with production dropping by 11.6% year on year. As of 2023, Armenia ranks 173rd in production, with Namibia just ahead at 103 metric tons. The top producers in this category are Brazil, Malaysia, and the United States, which hold the second, third, and fourth positions respectively.
