The sunflower oil production in China stood at 173.01 thousand metric tons in 2023, down significantly from its peak of 615.17 thousand metric tons in 2015. The period from 2013 to 2023 shows a highly volatile trend with an initial significant increase, followed by a steep and consistent decline. In recent years, the year-on-year decreases have been persistent, with the last two years showing variations of -8.05% in 2022 and -8.58% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years is -7.25%, indicating a sharp contraction in production.
Forecast data suggest that the downward trend will continue, with the five-year CAGR expected to be -10.68%, resulting in a 43.15% decline by 2028. This consistent decrease calls for attention to underlying factors such as shifts in agricultural trends, domestic demand, and policy impacts.
Future trends to watch for include:
- Changes in government policies affecting agricultural production and trade.
- Potential increases in domestic demand for sunflower oil that could influence production.
- Advances in agricultural technology and practices that may improve crop yields.
