The demand for rapeseed oil and mustard oil in Brazil has seen significant fluctuations over the past decade. From 2014 to 2016, the market experienced a sharp decline, with a notable drop of 40% in 2016. This was followed by continued decreases, although at a slower pace, from 2017 onwards, with minor recuperations such as in 2018 and 2021. By 2023, the market stood at 22.0 thousand metric tons, reflecting a year-on-year decrease of 4.35% and a five-year CAGR of -4.01%.
Looking forward, the forecast suggests a consistent downward trend, with a projected five-year CAGR of -4.4% from 2024 to 2028. This indicates an anticipated overall market contraction of 20.13% by 2028.
Future trends to watch for include advancements in alternative edible oils, changing agricultural policies, and the impact of economic fluctuations on consumer behavior. Additionally, shifts towards sustainable and health-focused consumption may also influence demand dynamics in the coming years.
