In 2023, the primary oilseeds yield in South Korea stood at 3.37 thousand hectograms per hectare, showing a slight increase of 0.66% year-on-year. Over the past two years, yields have displayed a consistent upward trend with incremental increases, averaging a CAGR of 0.8%. The long-term analysis from 2013 to 2023 reveals fluctuations in yield, with notable declines in years such as 2016 (-5.19%) contrasted by significant recoveries in other periods like 2014 (6.82%).
Throughout the forecast period from 2024 to 2028, the yield is expected to grow at a CAGR of 0.53%, reaching 3.48 thousand hectograms per hectare by 2028, representing a cumulative growth of 2.68%.
Future trends to watch for:
- Advancements in agricultural technology and practices that may enhance yield efficiency.
- Climate change impacts and their potential influence on oilseed farming conditions.
- Policy changes and governmental support for the agricultural sector in South Korea.