From 2013 to 2023, the oil crops yield in Singapore experienced fluctuations with varying trends. The year-on-year variation shows significant declines in some years, particularly in 2014 and 2020, with drops of around 26.88% and 5.44%, respectively. However, there were also periods of recovery, such as in 2016 and 2021, with increases of 25.11% and 4.9%, respectively. By 2023, the yield stood at 77.59 thousand hectograms per hectare, marking a slight decrease from the previous years.
Analyzing the Compound Annual Growth Rate (CAGR) over the last five years reveals an average annual decrease of approximately 0.3%. This indicates a relatively stable but declining trend in oil crop yields.
From 2024 onward, the forecast suggests a gradual decline in yields, with a forecasted 5-year CAGR of -0.28%, leading to a total decrease of about 1.38% by 2028.
Future trends to watch for include climate change impacts, advancements in agricultural technology, and shifts in policy or economic conditions that could influence yield outcomes. Monitoring these factors will be crucial for accurate forecasting and strategic planning in the oil crops sector.
