In 2023, the yield of oil crops in Chile stood at 41.05 thousand hectograms per hectare. The data reveals variable year-on-year changes with notable peak growths in 2015 and 2021. However, the market saw stagnations or slight declines between 2016 and 2020. Over the past two years, the oil crop yield has increased by 0.87%-0.9%. On a broader scale, the Compound Annual Growth Rate (CAGR) over the last five years has reached 1.12%, indicating moderate growth. The forecasted data up to 2028 suggests a steady rise, with a five-year CAGR projected to be 0.7%, cumulatively increasing by 3.53% from 2023.
Trends to watch for in the future include:
• Weather patterns and their impact on agriculture yields.
• Innovations in agricultural technology to enhance productivity.
• Changes in global demand-supply dynamics for oil crops.
• Government policies on farming and export that may influence production volumes.
