In 2023, the oilseeds market size volume in India stood at 7.84 million metric tons. The data reveals a mixed trend over the past decade. From 2014 to 2015, there was a significant increase of 6.99%, but a sharp decline followed in 2016 with a decrease of 22.13%. Despite fluctuations, the market has shown a general downward trend; notable year-on-year declines were between 2019 and 2023, averaging -1.1% annually during this period. The Compound Annual Growth Rate (CAGR) over the last five years stands at -1.28%.
Forecasts predict a continued subtle decline, with the market expected to reach 7.38 million metric tons by 2028, with a forecasted 5-year CAGR of -0.95% and an overall 5-year reduction of 4.65%.
Future trends to watch for include:
- Potential impacts of climate change on crop yields
- Shifts in domestic policy and trade restrictions
- Technological advancements in agriculture affecting productivity.
