From 2013 to 2023, the yield of oil crops in South Korea displayed a volatile trend with notable year-on-year variations. The yield experienced an initial plunge from 15.26 thousand hectograms per hectare in 2013 to 12.28 thousand hectograms per hectare in 2016. However, a partial recovery ensued, reaching 14.05 thousand hectograms per hectare in 2023. This transition denotes an overall rise in yield stability over recent years, reflected in a moderate 0.97% CAGR from 2018 to 2023.
Future trends, based on forecasted data, anticipate a steady increase in oil crop yields, with a 0.42% CAGR projected from 2024 to 2028. By 2028, the yield is expected to grow by 2.11% compared to 2023, highlighting gradual advancements in agricultural practices and technology absorption.
Future trends to watch for:
- Technological advancements in farming methods.
- Impact of climate change on crop productivity.
- Government policies and subsidies for agricultural innovation.
- Influence of global oil crop market dynamics.