The demand for oilseeds in Kenya is forecasted to continue its upward trend from 2024 to 2028. In 2023, the actual demand stood at 237.0 Thousand Metric Tons. From 2024 to 2028, the forecasted demand increases as follows: 240.0, 243.0, 247.0, 250.0, and 253.0 Thousand Metric Tons. This indicates a year-on-year increase of approximately 1.25% to 1.30%.
Specifically:
- From 2023 to 2024: 1.27%
- From 2024 to 2025: 1.25%
- From 2025 to 2026: 1.65%
- From 2026 to 2027: 1.21%
- From 2027 to 2028: 1.20%
Over the span of five years (2024-2028), the compounded annual growth rate (CAGR) stands at roughly 1.27%, indicating a steady growth trajectory.
Future trends to watch for include shifts in agricultural practices, changes in both domestic and global market prices of oilseeds, as well as policy adjustments regarding agricultural subsidies and international trade agreements. Additionally, the impact of climate change on crop yields and the adoption of technology in farming can significantly influence future demand.
