In 2023, Canada’s canola domestic disappearance stood at approximately 10.7 million metric tons. Projections from 2024 to 2028 indicate a growing trend, with values increasing steadily to an anticipated 12.08 million metric tons by 2028. Year-on-year growth exhibits a range of about 2.56% to 2.84%. Over the five-year forecast period, the compound annual growth rate (CAGR) is approximately 2.47%.
Future trends to watch for include potential impacts of climate change on canola yields, evolving dietary preferences that might alter domestic consumption, trade agreements affecting the supply chain, and advancements in agricultural technology that could optimize productivity.
