The feed demand for oilseeds in Saudi Arabia demonstrated significant growth and fluctuations from 2014 to 2023. Starting at 48.0 thousand metric tons in 2014, the market climbed to 110.0 thousand metric tons by 2023. Key variations include a major spike of 125% in 2015 due to increased investments in agribusiness and a sharp drop of 14.42% in 2018. The year-on-year growth stabilized to around 2.8% by 2023, with a 5-year CAGR of 4.33% until 2023, indicating steady growth despite minor fluctuations.
Future trends to watch for:
- An average annual growth rate of 1.88% is projected over the next five years.
- Potential impacts from advancements in agricultural technologies.
- Government initiatives aimed at boosting local production.
- Shifts in global oilseed market prices influencing import strategies.
