The production of oil crops in Austria for 2024 is forecasted at 445.61 thousand metric tons. In 2023, the production stood at a slightly lower figure, making the year-on-year increase from 2023 to 2024 notable. Predictions indicate consistent growth over the next four years, with 2025 expected to reach 453.18 thousand metric tons, 2026 at 460.6 thousand metric tons, 2027 rising to 467.86 thousand metric tons, and 2028 reaching 474.99 thousand metric tons.
Variation over the last two years shows a positive trend, emphasizing a stable rise in oil crops production. The Compound Annual Growth Rate (CAGR) for the forecast period five years indicates an average annual growth rate.
Future trends to watch for:
- Technological advancements in agricultural practices.
- Market demand shifts influenced by global economic conditions.
- Environmental policy changes impacting agricultural output.