Primary oilseeds production in Malaysia for 2023 stood at 22.966 million metric tons, reflecting a year-on-year increase of 1.26%. Over the past five years, the Compound Annual Growth Rate (CAGR) has averaged 1.29%. Examining the data since 2013 shows notable fluctuations, including a significant decline in 2016 and robust growth in 2017, followed by relatively stable production levels.
The forecasted data indicates a continuing upward trend in production, with an expected CAGR of 1% from 2024 to 2028, leading to a projected production of 24.464 million metric tons by 2028. This suggests steady growth, albeit at a moderate pace.
Future trends to watch for:
- Technological advancements in agricultural practices could further enhance yield efficiency.
- Environmental changes and policies may impact production levels.
- Global demand for oilseeds may influence Malaysia's export strategies and production volumes.
- Sustainability practices and their adoption could affect the long-term growth trajectory.
