Over the past decade, Thailand's sunflowerseed oil production exhibited stability between 2014 and 2017, maintaining a consistent level of 11.0 thousand metric tons. From 2018 onward, the production slightly declined to 10.0 thousand metric tons, except for a minor dip in 2020 to 9.5 thousand metric tons. Notably, by 2023, production stood at 10.0 thousand metric tons, indicating no significant change compared to the previous year.
The year-on-year variations reveal a substantial drop of 9.09% in 2018 and a further 5% decrease in 2020. However, a recovery of 5.26% in 2021 shows the beginning of a stabilization phase. The average annual decline over the last five actual years (CAGR) stands at approximately -1.89%. The forecast for the next five years projects a moderate annual decline at a CAGR of -0.61%, with production expected to decrease by 3.03% by 2028.
Looking ahead, future trends to monitor include the impact of climatic conditions on agriculture, technological advancements in sunflowerseed oil extraction, and potential changes in domestic and international demand. Tracking these factors will provide a clearer picture of the production trajectory for sunflowerseed oil in Thailand.