Rapeseed oil production in Chile has demonstrated a fluctuating yet generally upward trend over the past decade, standing at 102.51 thousand metric tons in 2023. The period from 2013 to 2016 saw dynamic growth with a CAGR peaking at 30.66% in 2015 but then experiencing a downward adjustment. From 2018 onwards, gradual increments were observed year-on-year, with a notable value of 3.83% increase in 2023. The average annual growth rate over the last five years has been 4.06%.
Looking ahead, forecasts indicate continued growth, with production expected to reach 122.28 thousand metric tons by 2028. The forecasted CAGR for the next five years (2024-2028) is 2.77%, reflecting a steadier growth trajectory compared to previous years.
Future trends to watch include:
- Potential impacts of climate change on agricultural yield.
- Technological advancements in farming practices and oil extraction methods.
- Global demand variations and trade policies influencing export and import dynamics.
- Shifts in domestic usage and growing health trends favoring plant-based oils.
