In 2023, the domestic extraction of oilseeds in the UK stood at 1.77 million metric tons. The forecast for this extraction is 1.74 million metric tons in 2024, showing a year-on-year decrease of 1.7%. In 2025, the extraction is projected to decline further to 1.71 million metric tons, representing a 1.7% decrease from the previous year. The trend continues with a decrease to 1.69 million metric tons in 2026 (down 1.1%), 1.67 million metric tons in 2027 (down 1.2%), and 1.64 million metric tons in 2028 (down 1.8%). The Compound Annual Growth Rate (CAGR) over the next five years is forecasted to be -1.5%, indicating a steady decrease in domestic extraction.
Future trends to watch for:
- Technological advancements in crop yields that could potentially offset the declining trend in oilseeds extraction.
- Policy changes affecting agricultural practices and environmental regulations that could impact production levels.
- Market demand fluctuations for oilseeds in both domestic and international markets.
