The yield of oil crops in Australia showed notable fluctuations over the past decade. The data reveals a peak in 2017 with a yield of 20.17 thousand hectograms per hectare, followed by a general downward trend. Between 2020 and 2023, yields slightly decreased, standing at 16.77 thousand hectograms per hectare in 2023. The year-on-year variations show a decline of 0.29% for both 2022 and 2023. The average annual change (CAGR) over the last five years was -0.61%.
Going forward, the forecast from 2024 to 2028 projects a continued yet moderate decline with an average annual decrease of -0.24%, ending with a projected yield of 16.52 thousand hectograms per hectare in 2028.
Future trends to watch:
- Impact of climate change on crop yields
- Technological advancements in agricultural practices
- Policy changes affecting agricultural subsidies and support
