In 2023, India's rapeseed domestic food consumption stood at approximately 721.0 thousand metric tons. The forecasted data indicates a steady increase in consumption over the next five years, with expected growth from 727.0 thousand metric tons in 2024 to 750.0 thousand metric tons by 2028. This reflects a consistent year-on-year growth ranging between 0.8% to 0.9%, culminating in a compound annual growth rate (CAGR) of around 0.8% over the forecasted period.
Future trends to watch for include:
- Potential increases in consumption due to dietary shifts towards plant-based oils.
- Impact of governmental policies on rapeseed production and import dynamics.
- Technological advancements in agriculture improving yield and quality of rapeseed.
- Fluctuations in international markets affecting domestic consumption patterns.