The demand for oilseeds in Indonesia exhibited significant year-over-year fluctuations over the past decade. Notably, after a period of incremental growth from 2014 to 2016, the demand surged sharply by 8.57% in 2017 and 13.72% in 2018. Despite some declines in 2019 and 2020, the market rebounded in 2021 with a 7.03% growth. As of 2023, the market stood at 221.96 million metric tons, marking a modest growth of 1.56% from the previous year, and an overall CAGR of 0.86% over the last five years. Looking ahead, the forecasted CAGR for the next five years (2024-2028) is estimated at 1.22%, anticipating a cumulative growth rate of 6.23% by 2028.
Future trends to watch for:
- Ongoing stability in demand with modest growth forecasted, reflecting market maturation.
- Potential impacts from technological advancements in agriculture and oilseed production.
- Changes in international trade policies and their effects on oilseed imports and exports.
