In 2023, the stock of rapeseed oil and mustard oil in Saudi Arabia stood at 10.0 thousand metric tons. The forecasted values for the subsequent years indicate a trend of gradual increase. For 2024 and 2025, the stock remains steady at 11.0 thousand metric tons, representing a 10% year-on-year increase from 2023. Moving forward, the years 2026 and 2027 see a further 9.1% rise to 12.0 thousand metric tons. By 2028, the stock reaches 13.0 thousand metric tons, showing an 8.3% growth year-on-year. Over the entire forecast period, the compound annual growth rate (CAGR) is approximately 5.5%.
Future trends to watch for include:
- Policy changes on agricultural imports and self-reliance initiatives
- Shifts in consumer preferences towards healthier oils
- Impact of global market dynamics on local stock levels
- Technological advancements in oil extraction and storage methods
