Australia's rapeseed oil supply is forecasted to follow a steady upward trend over the forecasted years. In 2023, the supply stood at 435.0 Thousand Metric Tons. Forecasts for 2024 predict an increase to 438.0 Thousand Metric Tons, marking a 0.69% year-on-year increase. Continuing this upward trajectory, the supply is expected to reach 447.0 Thousand Metric Tons by 2028.
- 2024: 438.0 (0.69% YoY increase)
- 2025: 440.0 (0.46% YoY increase)
- 2026: 443.0 (0.68% YoY increase)
- 2027: 445.0 (0.45% YoY increase)
- 2028: 447.0 (0.45% YoY increase)
The compounded average growth rate (CAGR) over the next five years is projected to be modest but positive.
Future trends to watch for include advancements in agricultural technology, potential impacts of climate change on crop yields, and shifts in global demand for rapeseed oil due to changing dietary preferences and biofuel production. Monitoring these factors will be crucial for adjusting forecasts and strategies.
