The demand for rapeseed oil and mustard oil in Indonesia has shown varied trends from 2014 to 2023, reaching 12.0 thousand metric tons in 2023. The year-on-year data reflects fluctuations, with significant increases in 2015 (50%) and 2021 (20.48%), and decreases in 2017 and 2020. Recent years indicate relative stability and modest growth, culminating in a 9.09% increase in 2023. The five-year CAGR stands at 3.71%. From 2024 onwards, forecasts predict continued growth, with a 2.01% CAGR, projecting the demand to reach 13.4 thousand metric tons by 2028, marking a 10.47% total growth over five years.
Future trends to watch for:
- Increasing health awareness and dietary shifts among Indonesian consumers.
- Potential impact of policy changes or subsidies for vegetable oils.
- Influence of global market prices and supply chain disruptions.
