The domestic consumption of rapeseed oil in India for 2023 stood at an estimated 3.85 million metric tons. The forecast indicates a steady increase, with consumption projected to rise from 3.95 in 2024 to 4.38 million metric tons by 2028. This reflects a compounded annual growth rate (CAGR) of approximately 2.1% over the five-year period. Year-on-year growth from 2024 to 2025 is expected to be about 2.8%, while from 2025 to 2026, it should reach 2.7%.
Future trends to watch for include:
- Impact of dietary shifts towards healthier oils on rapeseed oil demand.
- Government policies on oilseed crop cultivation and import duties.
- Technological advancements in oil extraction potentially affecting supply and prices.
- Global market trends influencing domestic consumption patterns.