The demand for vegetable oils in Angola showed notable fluctuations over the past decade, with actual demand increasing from 362.0 thousand metric tons in 2014 to 389.0 thousand metric tons in 2023. The highest demand year-on-year grew by 21.11% in 2021, recovering from a significant decline of 16.57% in 2020. The overall CAGR from 2014 to 2023 was 0.63%, indicating a moderate annual growth rate. Moving forward, forecasted data up to 2028 shows a continued but slower CAGR of 0.32%, predicting the demand to reach 396.89 thousand metric tons by 2028.
Future trends to watch:
• Enhanced local production capacities and agricultural policies may impact the supply chain.• Economic stability and consumer purchasing power could drive demand growth.• Global market trends and potential policy shifts might influence import reliance and pricing.
