The forecasted production of oil crops in Argentina is expected to increase consistently from 61.974 million metric tons in 2024 to 65.083 million metric tons by 2028. This represents a progressive year-on-year growth pattern, with each subsequent year seeing a modest increase in production levels.
Comparatively, in 2023, Argentina's oil crops production stood at 61.2 million metric tons, indicating a year-on-year increase of 1.27% in 2024. By 2025, the year-on-year growth is anticipated to be 1.29%, followed by 1.25% in 2026, 1.21% in 2027, and 1.17% in 2028. The compound annual growth rate (CAGR) over the five-year forecast period is estimated to be approximately 1.21%.
Looking ahead, trends to watch for include the impact of climate change on crop yields, advancements in agricultural technology, and policy changes affecting the agricultural sector. Additionally, global market demand and trade relations will play crucial roles in shaping the future production levels of oil crops in Argentina.
