The forecast for rapeseed oil production in Norway indicates a year-on-year decline. In 2023, the actual production stood at an unspecified baseline, but from 2024 onwards, a continuous decrease is projected. Comparing variations year-on-year: a 3.2% decline from 2024 to 2025, a 3.6% decline from 2025 to 2026, a 3.5% decline from 2026 to 2027, and a 3.7% decline from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the five-year period is estimated to show a declining trend, reflecting an average annual decrease.
Future trends to watch for:
- Potential impacts of climate change on crop yields.
- Shifts in agricultural policies and subsidies.
- Advances in agricultural technology and practices.
- Fluctuations in global demand for rapeseed oil.
