The primary oilseeds production in Austria is expected to see a steady upward trajectory over the coming years. Based on the provided forecasts, the production levels are estimations in thousand metric tons starting at 116.66 in 2024, increasing annually up to 119.59 in 2028. By comparison, the actual production data for 2023 stood at 115.94 thousand metric tons.
Year-on-year growth figures present a stable increase, signifying robust market stability:
- From 2023 to 2024, the anticipated year-on-year growth is 0.62%.
- From 2024 to 2025, the forecasted growth is 0.65%.
- From 2025 to 2026, production is expected to rise by 0.63%.
- From 2026 to 2027, a growth of 0.61% is forecasted.
- From 2027 to 2028, a slight increase of 0.60% is anticipated.
The compound annual growth rate (CAGR) from 2023 to 2028 is approximately 0.62%, demonstrating consistency in production expansion.
Future trends to watch for:
- Technological advancements in agricultural practices, which could further optimize yields.
- Market demand fluctuations driven by both domestic needs and export opportunities.
- Impacts of climate change on crop productivity, necessitating adaptive measures.
- Policy changes affecting the agricultural sector, including subsidies and sustainability regulations.