The vegetable oils production in Spain stood at 3.60 million metric tons in 2023. Based on the forecasted data, production is expected to increase gradually each year. The year-on-year variation is 2.19% from 2024 to 2025, 2.14% from 2025 to 2026, 2.09% from 2026 to 2027, and 1.79% from 2027 to 2028. The compounded annual growth rate (CAGR) for the period from 2024 to 2028 is approximately 1.96%.
Future trends to watch for include potential changes in agricultural policies, advancements in production technology, shifts in global demand, and the impact of climate change on crop yields. Monitoring these factors will be crucial for forecasting beyond 2028.
