Oil crops production in Chile has experienced fluctuations over the past decade. In 2023, production stood at 380.89 thousand metric tons, marking a year-on-year increase of 3.07%. Over the last two years, growth rates have shown consistent upward trends of over 3%. The 5-year CAGR leading up to 2023 was 1.31%, modestly reflecting a period of stabilization after previous volatility.
From 2024 onwards, forecasts indicate a continued steady growth in oil crops production, with a projected 5-year CAGR of 2.1%, leading to an estimated production of 434.58 thousand metric tons by 2028, signifying a growth rate of 10.93% over this period.
Future trends to watch for include potential impacts from climate change, advancements in agricultural technology, and shifts in global demand for oil crops, which could influence both production capacities and market dynamics in Chile.
