The forecasted import value of crude palm kernel or babassu oil to India shows a steady decline from 2024 to 2028. In 2023, the actual import value stood at $111.28 million USD. The year-on-year declines are modest, with values decreasing from $109.59 million in 2024 to $103.02 million in 2028, indicating a consistent downward trend.

Over the last two years, there has been a noticeable reduction in import values, largely due to shifting market dynamics and changing demands in the economy. The Compound Annual Growth Rate (CAGR) over the next five years is expected to reflect these declining import values, emphasizing a significant negative trend.

Future trends to watch for include:

Global price fluctuations of palm oil and related commodities.
Changes in India’s agricultural policies or import regulations.
Initiatives toward sustainable sourcing and environmental impact considerations.
Technological advancements in oil extraction and processing that could alter import needs.
Shifts in consumer preferences for alternative oils or substitutes.