The forecasted import volume of rapeseed oil and mustard oil in the United Kingdom shows a downward trend from 2024 to 2028. Starting from 75 thousand metric tons in 2024, the volume is expected to decrease annually, reaching 68 thousand metric tons by 2028. This represents a year-on-year decline of approximately 2.66% in 2025 and 2.74% in 2026. The compounded average growth rate (CAGR) over the five years is a decrease of roughly 2.42% per year. In 2023, the import volume was slightly higher, with figures aligning with the initial forecast for 2024.
Future trends to watch for include:
- Potential changes in global trade policies impacting import costs and volumes.
- Shifts in domestic agricultural production affecting the need for imports.
- Consumer demand changes towards these oils, influenced by health trends and dietary shifts.
- Alternative oil sources that could disrupt or modify the import demands.