The production of rapeseed oil and mustard oil in Chile has exhibited significant variability from 2014 to 2023, with a notable starting point at 51.0 thousand metric tons in 2014 and rising steadily to 94.0 thousand metric tons in 2023. This period experienced major fluctuations, including a pronounced 47.06% increase in 2015 and a subsequent dip of 10.98% in 2017. Over the last five years leading up to 2023, there was an average annual growth rate (CAGR) of 2.28%.
Projections for the future suggest continuing modest growth, with forecasted figures indicating a rise to 105.59 thousand metric tons by 2028, marking an overall 9.69% increase from 2023. This coincides with a lower forecasted CAGR of 1.87% for the next five years.
Future trends to watch for:
- Impact of climate change on crop yields.
- Advancements in agricultural technology.
- Global market demand and price fluctuations.
- Government policies and subsidies affecting production.
