In 2023, vegetable oil production in Brazil stood at 11.2 million metric tons, marking a slight increase of 1.09% from the previous year. Over the past decade, production has generally trended upward, despite occasional dips. Notable yearly variations include a substantial rise of 7.84% in 2015, a 2.64% decline in 2016, and another significant increase of 7.11% in 2017. The compound annual growth rate (CAGR) over the past five years is 0.8%, indicating moderated but stable growth.
Future projections indicate continued growth, with production expected to reach 11.82 million metric tons by 2028. This represents a forecasted 5-year CAGR of 0.86%, showing a steady upward trend. Overall, the 5-year forecasted growth rate is anticipated to be around 4.38%.
Key trends to watch for in the future include technological advancements in agricultural practices, changes in global demand and international trade policies, and environmental sustainability efforts. These factors are likely to significantly impact the production and export landscape of vegetable oils in Brazil.
