The oil crops production in Italy experienced fluctuations from 2013-2023, peaking at 4.2232 million metric tons in 2015 and reaching a 2023 volume of 3.3816 million metric tons. Production displayed irregular year-on-year variations, ranging from a significant increase (+28.53% in 2015) to notable declines (-17.6% in 2014). Compared to 2022, production decreased by -1.21% in 2023.
Notably, the five-year compound annual growth rate (CAGR) leading up to 2023 was -0.28%, indicating slight downward pressure. Looking forward, forecasted data suggests a continual decline with a 2028 forecasted volume of 3.1657 million metric tons and a -1.04% CAGR from 2024 to 2028.
Future trends to watch for:
- Technological advancements in agricultural practices that could boost productivity.
- Climate change impacts and potential mitigation strategies.
- Policy shifts and government interventions regarding agricultural subsidies.
- Market demand variations influenced by changes in global oil crop consumption patterns.