The import of groundnut oilcake and other solid residues to Canada is forecasted to rise from 509.79 thousand US dollars in 2024 to 535.19 thousand US dollars in 2028, showcasing a consistent growth trend. In 2023, the import value was recorded slightly below the 2024 forecast, indicating positive momentum moving forward.
Year-on-year growth rates based on the forecasted data for 2025 and 2026 are 1.3% and 1.2%, respectively. The compounded annual growth rate (CAGR) from 2024 to 2028 is around 1.2%, suggesting a steady upward trajectory.
Future trends to watch include potential changes in trade policies, fluctuations in global groundnut production, and shifting demand within the Canadian market that could influence import dynamics. Monitoring these factors will be crucial for strategic planning and risk management.
