Key Market Indicators
Belarusian oilseeds consumption is projected to decline over the coming years, with figures expected to drop to approximately 10,000 metric tons by 2028, down from 11,000 metric tons in 2023. This marks an average annual decrease of 1.9%. Since 2019, the country's demand for oilseeds has already seen a year-on-year decline of 1.7%. In 2023, Belarus ranked 120th globally in oilseeds consumption, with Hungary slightly ahead at 11,000 metric tons. The top three countries in oilseeds consumption were India, Indonesia, and Brazil, respectively. On the production front, Belarusian oilseeds output is set to rise, reaching about 256,000 metric tons by 2028, up from nearly 232,000 metric tons in 2023. This represents an average annual growth rate of 1.6%. Notably, Belarusian supply has seen a significant increase since 1997, with a year-on-year growth rate of 5.7%. In 2023, Belarus held the 66th position in global oilseeds production, with Algeria producing a similar amount at nearly 232,000 metric tons. The leading producers were Brazil, Malaysia, and the United States, occupying the second, third, and fourth spots, respectively.
