The harvested production of oilseeds in Belgium has shown notable variability over the recent past. From 2015 to 2023, the production volume has fluctuated, with significant drops observed in 2016 and 2019 and notable increases in 2017 and 2022. The year 2023 shows a slight decline by 7.59% after a substantial recovery in 2022. The CAGR over the past five years has been -4.66%, indicating an overall declining trend despite occasional year-on-year upswings. Forecasts for the years 2024 to 2028 suggest a period of stabilization with modest annual growth, achieving a CAGR of 0.05%.
Future trends to watch for:
- Potential impacts of climate change on agricultural yields.
- Shifts in policy and subsidies affecting oilseed production.
- Technological advancements in farming practices increasing efficiency.
- Market demand fluctuations both domestically and internationally.
