In 2023, the import of crude palm kernel or babassu oil to the UK stood at 8.782 million kilograms. The forecasted data for 2024 projects a decline to 6.9549 million kilograms, a significant decrease representing a negative year-on-year variation of approximately 20.8%. This declining trend is expected to continue, with 2025 imports falling to 5.2375 million kilograms, marking a further drop of about 24.6%. From 2026 to 2028, the forecast predicts a continued decrease to 0.28875 million kilograms, reflecting a cumulative annual growth rate (CAGR) of -39.6% over five years.
Future trends to watch include the strengthening of sustainability practices within the UK, possible changes to international trade agreements, and evolving consumer preferences towards more environmentally-friendly alternatives, all of which may influence the demand and regulatory landscape for palm kernel and babassu oil imports. Additionally, market shifts towards alternative oils could further drive down demand.
