Sunflower seed oil production in India has experienced a consistent decline from 143.0 thousand metric tons in 2014 to 38.0 thousand metric tons in 2023, where it stood most recently. The annual year-on-year percentages reveal substantial drops, notably a -31.47% decrease in 2015 and a continuous negative trend ranging from -4.29% to -13.64% in subsequent years. Over the most recent five-year period up to 2023, the CAGR was -10.72%, underscoring a marked decrease in production.
The forecast suggests a continuing decline, with the five-year CAGR from 2024 projected to be -22.52%, leading to an estimated production of just 8.92 thousand metric tons by 2028. This indicates a substantial decrease of 72.07% from the current 2023 figure.
Future trends to watch for:
- Possible changes in agricultural policies or subsidies that might impact sunflower seed cultivation.
- Developments in climate change and weather patterns affecting yield.
- Technological advancements in farming and oil extraction processes.
- Market demand shifts for sunflower seed oil and potential competition from alternative oils.
