The historical data for cottonseed oil production in the US show significant fluctuations over the past decade. In 2023, production stood at 179.04 thousand metric tons, marking a notable decline from the previous years. The year-on-year variation from 2022 to 2023 was -5.2%, continuing a downward trend. Over the last two years, the annual decrease averaged around -6.05%. The Compound Annual Growth Rate (CAGR) over the last five years has been -4.47%, reflecting a consistent decline in production.
Future forecasts indicate that cottonseed oil production will continue to decrease, reaching 128.02 thousand metric tons by 2028. This represents an estimated 5.35% annual decrease over the next five years, equating to a 24.04% total decline from 2023 levels.
Future trends to watch for include:
- Increased competition from alternative vegetable oils.
- Advancements in agricultural and processing technologies.
- Shifts in consumer preferences towards healthier oil options.
- Impact of environmental regulations on cotton farming practices.
