The forecasted data for non-food uses of groundnut oil in China indicates a steady decline from 2024 to 2028, starting at 835.0 thousand metric tons in 2024 and decreasing annually to reach 784.0 thousand metric tons by 2028. This predicted trend reveals an average contraction of approximately 1.5% each year. Compared to 2023, when actual figures stood notably higher at 848.0 thousand metric tons, the projections underscore a persistent year-on-year decline.
Future trends to watch for:
- Shifts in industrial and commercial applications, which might alter the demand dynamics.
- Potential developments in alternative oils and substitutes that could impact consumption patterns.
- Changes in trade policies and tariffs, which may affect import and export activities related to groundnut oil.