The demand for oilseeds in the Philippines is projected to experience modest growth in the coming years. In 2024, the forecasted demand stands at 15.27 million metric tons, rising slightly to 15.38 million metric tons by 2028. This indicates a steady increase, with a year-on-year variation of approximately 0.2% to 0.3% annually. The compounded annual growth rate (CAGR) over the five-year period from 2023 to 2028 is projected to be around 0.2%.
Key future trends to monitor include potential impacts of climate change on agricultural yields, shifts in domestic and global trade policies, technological innovations in farming practices, and evolving consumer preferences towards plant-based diets and biodiesel production. Keeping an eye on these trends will be crucial for anticipating changes in oilseed demand dynamics in the Philippines.
