The supply of coconut oil in the Philippines is forecasted to increase gradually from 2024 to 2028, starting at 1.81 million metric tons in 2024 and reaching 1.87 million metric tons by 2028. The actual supply in 2023 was lower, indicating a consistent growth trend. Year-on-year variations show incremental growth approximately between 1.1% and 1.4%, with a Compound Annual Growth Rate (CAGR) of 0.8% over the last five years.
Future trends to watch for:
- Potential impacts of weather patterns and climate change on coconut harvests.
- Shifts in global demand for coconut oil and related products.
- Technological advancements in coconut farming and oil extraction.
- Government policies and incentives impacting coconut oil production.
- Sustainability initiatives by major coconut oil producers.
