In 2023, peanut oil production in China was 3.2 million metric tons. The forecast from 2024 to 2028 shows a consistent annual increase of 0.05 million metric tons, reaching 3.45 million metric tons by 2028. Year-on-year growth is steady at approximately 1.54% annually, indicating a stable upward trend over the last two years. Over a five-year period, the compound annual growth rate (CAGR) is similar at around 1.54%, reflecting modest yet consistent growth in production capacity.
Future trends to watch for include:
- Technological advancements in agricultural practices enhancing yield.
- Potential impacts of climate change on peanut crop production.
- Changing domestic and international demand for peanut oil.
- Policy changes in China impacting agricultural subsidies or trade.
