From 2014 to 2023, Turkey's cottonseed oil production saw fluctuating year-on-year variations, with notable increases in 2015 and 2018 of 9.6% and 12.17% respectively. The production in 2016 and 2020 experienced drops of 10.31% and 3.62% respectively. As of 2023, production stood at 217 thousand metric tons, marking a 1.4% year-on-year increase and a CAGR of 0.47% over the last five years. Historically, from 2014 onwards, the production generally trended upwards with some dips, averaging a 0.47% annual increase.
Looking ahead, forecasted data from 2024 to 2028 predict a steady growth rate, with a 5-year CAGR of 0.88% and an overall projected increase of 4.46%. By 2028, production is expected to reach approximately 229.3 thousand metric tons.
Future Trends to Watch:
• Stability in global cottonseed supply and demand.
• Agricultural policy changes impacting cotton cultivation.
• Technological advancements in extraction and processing.
• Environmental factors affecting crop yields.
