The data for Palm Oil Domestic Consumption in Canada shows a steady increase from 2024 to 2028. The forecast values indicate a rise from 105.0 thousand metric tons in 2024 to 110.0 thousand metric tons in 2028. Comparing the year-on-year variation, we see minor increases: 1.90% from 2024 to 2025, 0.93% from 2025 to 2026, 0.93% from 2026 to 2027, and 0.92% from 2027 to 2028.
Considering the base value for 2023, which stood at 102.0 thousand metric tons, the compound annual growth rate (CAGR) over the five-year span (2024-2028) falls around 1.56%.
Future trends to watch for include shifts in consumer preferences towards sustainable and ethically sourced palm oil, potential policy changes regarding palm oil imports, and advancements in alternative oils that may impact Canadian consumption patterns. Monitoring these factors will be crucial in accurately forecasting the domestic demand for palm oil in Canada beyond 2028.
