The forecast for primary oilseeds production in Belgium predicts a consistent decline from 2024 to 2028. In 2023, production was at 12,300 Thousand Metric Tons. For 2024, a decrease to 11.85 Thousand Metric Tons is projected, followed by continued reductions: 11.41 in 2025, 10.98 in 2026, 10.56 in 2027, and 10.15 in 2028. This data indicates a negative trend and suggests a significant and continuous contraction in production volume.
Year-on-year percentage variations are useful to understand the rate of decline, showing:
- 2023-2024: -3.65%
- 2024-2025: -3.72%
- 2025-2026: -3.77%
- 2026-2027: -3.82%
- 2027-2028: -3.87%
Over the last two years, the trend shows a clear deceleration in production, averaging an annual decline. The compound annual growth rate (CAGR) over the five years is approximately -3.76%, indicating a substantial reduction in primary oilseeds production efficiency or market demand.
Future trends to watch for include technological advances in agriculture, climatic changes affecting crop yields, policy shifts in the European Union impacting farming, and variations in global demands for oilseeds. These factors could either exacerbate or mitigate the production decline. Monitoring these variables will be crucial in adapting strategies and forecasting more accurately.
