Definition, Meaning & Synonyms

offtake

noun

/ˈɔf.teɪk/

Definition

Offtake refers to the amount of a product or commodity that is purchased or taken by a buyer or a market.

Examples

The offtake agreement ensured a steady supply of minerals to the processing plant.
In the renewable energy sector, offtake contracts are crucial for financing new projects.

Meaning

In a business context, offtake usually pertains to agreements or arrangements where a buyer commits to purchasing certain quantities of a product over a specified timeframe.