Chile's vegetable oil production has witnessed a fluctuating yet overall increasing trend from 2014 to 2023. In 2023, the production value stood at 252.0 thousand metric tons, marking a modest year-on-year variation of 1.2%. On average, the industry observed a 1.06% annual growth rate over the past five years. Significant short-term changes include a sharp increase in 2015 (18.42%) and a notable decline in 2017 (-5.6%).
Forecasting to 2028, the industry is expected to continue its steady growth with a forecasted five-year CAGR of 1.04%, reaching 269.26 thousand metric tons. The growth rate over this period is anticipated to be 5.32%.
Future trends to watch for would be advancements in sustainable agricultural practices, potential climate change impacts, international trade policies, and innovations in oil extraction and processing technologies.
