Analyzing South Korea's cottonseed oil production from 2013 to 2023, we see variability with a notable decline in 2018, dropping by 28.06%. Recovery is modest, and by 2023, production stabilizes around 22.81 thousand metric tons. The year-on-year variations highlight significant shifts: sharp increases until 2015, a slump in 2018, and a relatively steady rate thereafter. The CAGR over the last five years ending in 2023 stands at 2.67%, indicating a slow recovery post-2018.
Future trends to watch:
- Continued stability in production, with the forecasted year-on-year CAGR indicating a very modest growth of 0.1% annually through 2028.
- Factors like technological advancements, agricultural policies, and global market demand may influence future production levels.
