The import of sunflower seed oilcake and other solid residues to Canada is forecasted to rise from 19.53 million kilograms in 2024 to 24.149 million kilograms in 2028. This projection suggests an increasing demand, with the compound annual growth rate (CAGR) over these five years indicating a steady upwards trend. In 2023, the actual import volume was lower than the forecasted 2024 figure, highlighting an anticipated growth starting in 2024.
Future trends to watch:
- The potential impact of global agricultural supply chains and fluctuations in sunflower seed production.
- Changes in import tariffs or regulations that may affect trade flows.
- Developments in renewable energy policies that might influence the biofuel market, subsequently affecting the demand for oilcake as a byproduct.
