South Korea's coconut oil import volume stood at 54 thousand metric tons in 2023, reflecting a stable trend from 2019 onwards. The year-on-year variation from 2018 to 2019 saw a minimal decline of 5.26%, stabilizing at 54 thousand metric tons through 2020 to 2023. The compound annual growth rate (CAGR) over the last five years up to 2023 is -1.08%. This CAGR suggests a slight decline in annual import volume since 2018.
The forecast data for 2024 to 2028 indicates a steady import volume of 54 thousand metric tons, with a forecasted 5-year CAGR of 0%, implying no significant growth or decline in the foreseeable future.
Future trends to watch for:
- Potential changes in global coconut oil prices, which could impact import volumes.
- Shifts in consumer preferences towards alternative oils or health trends affecting demand.
- South Korean trade policies or environmental regulations that might alter import volumes.