Based on the data provided, Thailand's coconut oil production is forecasted to increase marginally from 46.0 thousand metric tons in 2024 to 47.0 thousand metric tons in 2027 and 2028, indicating a stable yet slightly improving production trend.
When comparing the forecasted years, the production volume remains constant from 2024 to 2026 with no percentage variation, while slightly increasing by approximately 2.17% from 2026 to 2027 and maintaining the same level in 2028. This suggests a stable production scenario with minor fluctuations over five years.
The last two years also reflect this stability with no significant variation from 2024 to 2026, followed by a minute increase of 2.17% thereafter. On average, the Compound Annual Growth Rate (CAGR) would be relatively low due to these small and stable increments.
Future trends to watch for include:
- Climate impact on coconut yield.
- Technological advancements in agricultural practices.
- Market demand fluctuations for coconut oil-based products.