Based on the provided data, rapeseed oil production in India reached 2.4827 million metric tons in 2023. The year-on-year variation over the last two years shows an increase of 1.14% and 1.17% respectively, indicating a gradual but steady rise. The last five years had an average annual growth rate (CAGR) of 0.9%, demonstrating moderate growth.
Future trends to watch for:
• Potential impacts of climate change on crop yields.
• Changes in domestic and global demand for rapeseed oil.
• Technological advancements in agriculture and oil extraction processes.
• Government policies and incentives promoting or discouraging rapeseed production.
• Market competition from other vegetable oils impacting the rapeseed oil industry.