Key Market Indicators
Cypriot oilseeds consumption is projected to remain stable at around 8,000 metric tons by 2028, mirroring the figure from 2023. This indicates no significant change in demand since 2019. In the global ranking for oilseeds consumption in 2023, Cyprus held the 124th position, with Guinea-Bissau slightly ahead at the same consumption level. Leading the chart were India, Indonesia, and Brazil, occupying the second, third, and fourth positions, respectively. On the production front, Cypriot oilseeds output is expected to increase to approximately 6,820 metric tons by 2028, up from 5,940 metric tons in 2023. This represents a compound annual growth rate (CAGR) of 2.2%. Historically, since 1966, Cyprus has seen a yearly production growth rate of 5.7%. In 2023, Cyprus ranked 137th in oilseeds production, with the Federated States of Micronesia surpassing it at the same production level. Brazil, Malaysia, and the United States were the top producers, ranking second, third, and fourth, respectively.
