From 2014 to 2023, the Palm Kernel Oil market in South Africa has shown significant fluctuations. The volume stood at 18.0 thousand metric tons in 2014, with notable variations in subsequent years. After a 27.78% drop in 2015, the market saw a 38.46% rise in 2016. However, fluctuations continued with decreases and increases year over year. In 2023, the volume remained steady at 16.0 thousand metric tons, consistent with 2022 figures. The 5-year CAGR leading up to 2023 indicates a slight decline at -1.21%.
Future trends to watch for include:
- A gradual decline forecasted in the coming years with the volume expected to reach 15.56 thousand metric tons by 2028.
- The forecasted 5-year CAGR from 2024 to 2028 is -0.41%, signaling a minor but continuous reduction in market volume.
- External factors such as environmental regulations, changes in demand from related industries, and shifts in import/export policies will likely impact the market.
