Based on data, Thailand's oil crops production has shown fluctuation from 2013 to 2023 but generally trended upward. In 2023, production stood at 19.788 million metric tons. Year-on-year variations highlight notable spikes and dips: a significant decline in 2015 (-11.14%) followed by robust growth in subsequent years, peaking in 2017 with a 23.04% increase. The 5-year CAGR from 2018 to 2023 is 3.57%, indicating moderate annual growth. The forecasted data suggests a continued steady increase, with a projected 5-year CAGR from 2024 to 2028 of 2.19%, reaching 22.744 million metric tons by 2028.
Future trends to watch for include the impacts of climate change on crop yield, advancements in agricultural technologies, and changes in global demand for oil crops. Policy shifts towards sustainable agriculture and potential trade agreements could also play significant roles in shaping the sector's growth trajectory.
