The oil crops yield in Canada showed fluctuations from 2013 to 2023. The yield stood at 24.22 thousand hectograms per hectare in 2023. Over the last two years, the yield increased modestly by 1.11% in 2022 and 1.08% in 2023. The CAGR for the last five years stood at 0.77%, indicating a gradual upward trend. From 2024, the forecast predicts a steady increase, with a forecasted 5-year CAGR of 0.85% and a growth rate of 4.34%, culminating in a yield of 25.57 thousand hectograms per hectare by 2028.
Future trends to watch for:
- Impact of climate change and extreme weather conditions.
- Technological advancements in agricultural practices.
- Government policies and subsidies affecting crop production.
- Global market demand fluctuations for oil crops.
- Potential improvements in crop genetic engineering.