Key Market Indicators
Azerbaijan's consumption of oilseeds is projected to reach approximately 4,400 metric tons by 2028, up from 4,000 metric tons in 2023. This marks an average annual growth rate of 1.4%. Since 2019, the country's demand for oilseeds has remained stable. In 2023, Azerbaijan was ranked 131st globally in oilseed consumption, with Venezuela slightly ahead at 4,000 metric tons. Leading the global rankings were India, Indonesia, and Brazil, occupying the second, third, and fourth positions, respectively. On the production front, Azerbaijan's oilseeds output is expected to rise to about 69,200 metric tons by 2028, from 57,100 metric tons in 2023. This indicates an average annual growth rate of 3%. Historically, since 1997, the country's oilseeds supply has increased by an average of 7.3% per year. In 2023, Azerbaijan was ranked 89th in oilseed production, with the Central African Republic just ahead at 57,100 metric tons. The top global producers were Brazil, Malaysia, and the United States, holding the second, third, and fourth spots, respectively.
