The oilseeds production in Turkey amounted to 5.74 million metric tons in 2023. Over the years, we observe a mixed trend with fluctuations from 2014 to 2023. Significant variations include a sharp increase in 2017 by 14.82%, followed by a notable drop in 2018 by 7.88%. The year 2023 shows a modest rise of 0.47%, reflecting a conservative growth pattern. The Compound Annual Growth Rate (CAGR) over the last five years stands at 0.8%, indicating a steady but modest growth trend.
Going forward, the forecasted data reveals a consistent upward trend with minor year-on-year increments, predicting the production to reach 5.88 million metric tons by 2028. The forecasted five-year CAGR is 0.38%, reflecting a continuation of slow growth.
Future trends to watch for:
- Potential impacts of climate change on crop yields.
- Technological advancements in agriculture boosting productivity.
- Market dynamics and policy changes influencing oilseed prices.
