Based on the provided forecast data, coconut oil domestic consumption in Indonesia is expected to experience a steady and modest increase. In 2023, the consumption stood at 404.0 thousand metric tons. This is projected to rise as follows:
- 2024: 405.0 thousand metric tons (0.25% increase from 2023)
- 2025: 406.0 thousand metric tons (0.25% increase from 2024)
- 2026: 408.0 thousand metric tons (0.49% increase from 2025)
- 2027: 410.0 thousand metric tons (0.49% increase from 2026)
- 2028: 411.0 thousand metric tons (0.24% increase from 2027)
The compound annual growth rate (CAGR) over the last five years is approximately 0.34%.
Future trends to watch for include the impact of changing dietary preferences, potential governmental policies affecting coconut oil production, and macroeconomic factors such as inflation and global demand shifts. Sustainable farming practices and technological advancements in oil extraction could also play significant roles in influencing future consumption patterns.
