The demand for palm oil in India stood at 9.35 million metric tons in 2023. Over the last two years, the year-on-year variation was 1.05% in 2022 and 1.02% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 was 1.2%, showcasing a steady but slow growth rate. In the future, the demand is projected to continue its moderate increase with a forecasted CAGR of 0.73% from 2024 to 2028, culminating in a 3.73% growth over this period. This suggests that while growth will persist, it will be at a slightly slower pace.

Future trends to watch for:

Potential shifts in dietary and consumer preferences towards healthier alternatives.
Government regulations and environmental concerns affecting palm oil imports and production.
Economic factors influencing consumer purchasing power and demand for edible oils.
Technological advancements in agriculture and oil production practices.