In 2023, the domestic industrial consumption of palm oil in Brazil stood at about 761.0 thousand metric tons. Looking ahead, the forecast data for 2024 to 2028 show a consistent upward trend, with consumption projected to reach 918.0 thousand metric tons by 2028. This represents a compound annual growth rate (CAGR) of approximately 3.86% from 2023 to 2028.
Year-on-year variations indicate a steady increase in palm oil consumption:
- 2023 to 2024: 4.07%
- 2024 to 2025: 4.04%
- 2025 to 2026: 3.88%
- 2026 to 2027: 3.62%
- 2027 to 2028: 3.49%
Future trends to watch for include potential policy changes impacting biofuel mandates, technological advancements in palm oil production, and shifts in the global supply chain that could affect import and domestic production volumes.
