Based on the data provided, Brazil's forecasted cottonseed oil production shows a steady increase from 2024 to 2028. In 2023, actual production stood at 678.0 Thousand Metric Tons. From 2024 onwards, the forecasted figures demonstrate a year-on-year growth as follows:
- 2024: 701.0 Thousand Metric Tons (+3.4%)
- 2025: 725.0 Thousand Metric Tons (+3.4%)
- 2026: 749.0 Thousand Metric Tons (+3.3%)
- 2027: 772.0 Thousand Metric Tons (+3.1%)
- 2028: 795.0 Thousand Metric Tons (+3.0%)
Over the last two years (2022-2023), the production growth was significant at an average of 3.3% annually. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 stands at approximately 3.2%, indicating consistent yearly growth in production.
Future trends to watch for include potential impacts of climate change on agricultural yields, evolving demand in domestic and international markets, and advancements in agricultural technology that could further optimize production efficiency. Additionally, government policies and economic factors will play crucial roles in shaping future production trends.
