The oil crops production in Vietnam stood at 2.3091 million metric tons in 2023. Observing the historical data, the production trend has shown a steady increase from 2013 to 2023, with some yearly fluctuations. Notably, between 2019 and 2020, there was a significant decline of 4.65%, followed by a rebound with a growth of 6.52% in 2021. From 2022 to 2023, there was a moderate increase of 1.12%. Over the past five years, the compound annual growth rate (CAGR) was approximately 1.55%, reflecting a stable and moderate growth trend.
For the future, forecasts up to 2028 indicate a projected CAGR of 0.89%, with expected total growth of 4.51% by 2028. Key factors to watch for include technological advancements in agriculture, changes in global oil crop demand, domestic policy adjustments, climate change impacts, and potential trade agreements affecting Vietnam's export capabilities.
