The forecast for oilseeds import volume in Saudi Arabia shows a steady decline from 2024 to 2028. The volume begins at 782.75 thousand metric tons in 2024 and decreases to 759.83 thousand metric tons by 2028. Comparing year-on-year variations, the import volume is expected to decline by approximately 0.75% from 2024 to 2025 and continues to show similar reductions yearly until 2028. Over the last two years, the trend indicates a consistent decrease in oilseeds import volume.
Considering a longer period from 2023 to 2028, the compound annual growth rate (CAGR) reveals a gradual reduction in import volume, averaging a decline of around 0.75% per year.
Future Trends to Watch For:
- Potential changes in Saudi Arabia's domestic agricultural policy or self-sufficiency initiatives which may further influence import volumes.
- Global market dynamics, such as changes in oilseed prices and supply disruptions, could have a significant impact on future import volumes.
- Technological advancements in agriculture within Saudi Arabia to optimize local oilseed production might serve as a critical factor in reducing import dependency over the forthcoming years.
