From 2014 to 2023, the oilseeds market in Vietnam has shown a steady increase in volume, reaching 1.81 million metric tons in 2023. The past two years saw modest year-on-year growth, with a 1.4% increase each year. Notably, the compound annual growth rate (CAGR) over the last five years has averaged 1.24% annually, indicating a deceleration compared to earlier periods.
Over the upcoming years from 2024 to 2028, the market is forecasted to grow at a CAGR of approximately 1%. Longer-term trends suggest a consistent but moderate growth rate, projected to reach 1.93 million metric tons by 2028.
Future trends to watch for include potential impacts of climate change on production, shifts in global demand, advancements in agricultural technology, and possible policy changes affecting the market dynamics and import-export regulations in Vietnam.
