The rapeseed oil and mustard oil market in Chile experienced volatility over the past decade, peaking at 41 thousand metric tons in 2015 before declining steadily to 34 thousand metric tons in 2023. Over the last two years, the market showed no growth, maintaining a steady volume. The five-year compound annual growth rate (CAGR) indicates a slight average annual decrease of -1.14% since 2019. The market is forecasted to continue its gradual decline, with a forecasted five-year CAGR of -0.69%, reaching approximately 32.44 thousand metric tons by 2028, which would represent a cumulative decline of about 3.42% from 2024.
Future trends to watch for include:
• The impact of government regulations on oil production and imports.
• Increasing demand for alternative oils driven by health and environmental concerns.
• Innovations in agricultural methods and oil extraction technologies.
