Analysis of Forecast: Primary Oilseeds Production in Italy:
The primary oilseeds production in Italy is expected to decrease steadily from 2024 to 2028. In 2023, the actual production stood at 753.21 thousand metric tons. A forecasted decline in production is observed:
• From 2024 to 2025, the production decreases by 1.52%.
• From 2025 to 2026, the production reduces by 1.51%.
• From 2026 to 2027, production decreases by 1.50%.
• From 2027 to 2028, there is a further reduction of 1.49%.
The Compound Annual Growth Rate (CAGR) for this period indicates an average yearly decline of approximately 1.49%.
Future trends to watch for include: the impact of climate change on crop yields, shifts in agricultural policies, advancements in agritech, and the influence of international market demand and prices on domestic production. These factors will be crucial in determining the trajectory of Italy's oilseeds production in the coming years.