The oilseeds feed market in Turkey has exhibited varying trends in recent years. From 2014 to 2023, actual data shows fluctuations with a notable decline from 1.55 million metric tons in 2014 to 1.28 million metric tons in 2023. The year-on-year variation in 2023 was -0.85%, reflecting a consistent decline. The CAGR from 2018 to 2023 was -1.76%, indicating a gradual downward trend over the last five years.
Key trends observed:
- 2015 experienced a significant drop of -17.5% year-on-year.
- From 2016 to 2018, the values saw a recovery with positive year-on-year trends in 2017 and 2018.
- Post-2018, there was a moderate decline again, reflected in the near-flat but downward trend continuing into 2023.
Forecasted data from 2024 to 2028 suggest a continued but more gradual decline with a forecasted 5-year CAGR of -0.73% and an overall forecasted growth rate of -3.62%. As of 2023, the value stands at 1.28 million metric tons.
Future Trends to Watch: Close monitoring is advised for potential market fluctuations due to geopolitical factors, climate change impacts on yield, and shifts in agricultural policies. Innovations in crop technology and sustainable farming practices may also influence future trends. Stakeholders should stay alert to these factors to adapt strategies effectively.
