The demand for sunflowerseed oil in Chile witnessed considerable fluctuations between 2014 and 2023, starting at 59.0 thousand metric tons in 2014 and reaching 97.0 thousand metric tons in 2023. In 2023, the demand increased by 2.11% year-on-year, with a CAGR of 1.97%. The most significant spike was in 2017, with a year-on-year increase of 134.21%, followed by stable growth patterns in recent years. From 2019 to 2023, the CAGR was 8.08% from 2017-2019 indicating a stronger growth phase leading up to a stable period.
Future trends to watch for include sustained moderate growth, with the forecasted demand in 2028 expected to reach 109.6 thousand metric tons, driven by a 5-year CAGR of 1.91% and an overall 5-year growth rate of 9.93%. Factors to monitor include changes in consumer preferences, economic conditions, and agricultural output impacting the sunflowerseed oil market.
