The import of Palm Kernel and Babassu Oil, Fractions Simply Refined to Canada is projected to grow, with an increase from $23.674 million USD in 2024 to $26.094 million USD in 2028. The year-on-year growth rates are relatively steady, with a consistent increase in each consecutive year. The compound annual growth rate (CAGR) over the five-year forecast period is indicative of a stable upward trend. As of 2023, the value stood below the forecasted figure for 2024, showing gradual growth in this segment.
Future trends to watch for include potential impacts from international trade policies, shifts in consumer demand for sustainability, and global supply chain disruptions which may influence the import levels and prices of these oils in Canada.
