Key Market Indicators
Consumption of oilseeds in Azerbaijan is predicted to reach 4,500 metric tons by 2026, up from 4,000 metric tons in 2021. This represents an average annual growth rate of 1.9%. Since 2017, demand for oilseeds has remained relatively stable in the country, which is currently ranked 132nd in the world. Venezuela overtook Azerbaijan in 2021, producing 4,000 metric tons. India, Indonesia, and Brazil are ranked 2nd, 3rd, and 4th, respectively. Production of oilseeds in Azerbaijan is projected to reach 64,100 metric tons by 2026, up from 52,440 metric tons in 2021. This equates to a year-on-year growth rate of 3.4%. Since 1997, Azerbaijani supply has risen by 18.4% annually. The country ranks 93rd in the world, with Turkmenistan ahead of it at 52,440 metric tons. Brazil, the United States, and Malaysia are the world’s 2nd, 3rd, and 4th largest producers of oilseeds, respectively.