The primary oilseeds production in Thailand exhibited fluctuating yet overall positive growth over the observed period, reaching 4.2545 million metric tons in 2023. Early years saw varied annual changes, with notable dips in 2015 and 2020, at -11.26% and -3.39%, respectively. Contrastingly, strong growth spurts occurred in 2017 and 2021, where production rose by 24.18% and 8.86%, respectively. The last two years demonstrated stable growth: 3.23% in 2022 and 3.07% in 2023. The five-year CAGR leading up to 2023 averaged 3.74%. Forecasts predict steady growth, reaching 4.9166 million metric tons by 2028 with a projected five-year CAGR of 2.27% and a total growth rate of 11.9%.
Future trends to watch for:
- Enhanced technological advancements in agricultural practices
- Government policies and subsidies affecting production rates
- Impact of climate change on crop yields
- Shifts in global oilseed demand and trade dynamics
- Increased focus on sustainable farming practices
