In 2023, Canada's rapeseed imports were estimated at a level lower than the projected 119.0 thousand metric tons forecasted for 2024. Moving forward, imports are anticipated to gradually increase each year, reaching 124.0 thousand metric tons by 2028. The year-on-year growth rate from 2024 to 2028 is modest, typically around 1% annually, signaling steady growth in Canada's rapeseed import market. The compound annual growth rate (CAGR) for this five-year period is consistently trending upwards.
Future trends to monitor include potential changes in global rapeseed supply due to climate impacts or trade policy shifts, as these could affect Canada's import dynamics. Additionally, domestic production capacities and demand changes for rapeseed derivatives may influence import needs.
