Oilseed Farming in the US
The Oilseed Farming industry, which produces mainly canola, sunflower and flaxseed, is small when compared with other US cash crops such as corn, soybeans and wheat. Therefore, industry revenue can fluctuate in line with changes in the US agricultural sector at large, typically based on both global and domestic supply conditions. Industry revenue has grown or shrunk significantly in each of the past five years to 2018, in line with movements in the price of oilseeds. Over the five years to 2018, oilseed prices have been particularly volatile. Industry revenue is expected to rebound over the five years to 2023 as the price of oilseeds stabilizes. The growing acceptance and adoption of vegetable oils will continue to help improve demand from the US consumer. Biofuel production will also increase, which is anticipated to generate steady demand for oilseeds as part of the Renewable Fuels Program.
Farmers in this industry grow a variety of oilseeds, including canola seeds, sunflower seeds, flaxseeds, safflower seeds and mustard seeds. Soybeans (IBISWorld report 11111) and cottonseeds are not included in this industry report.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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