The forecast for the import of sunflower or safflower oil and fractions simply refined to the US shows a consistent increase from 2024 to 2028. The volumes are projected to increase from 57.69 million kilograms in 2024 to 65.408 million kilograms by 2028. The year-on-year increase is around 3% to 4% annually, indicating steady growth in demand. In 2023, the volume was slightly lower, reflecting a growing trend in imports. Over a five-year span, the compound annual growth rate (CAGR) is steady, signifying a sustainable increase.
Key future trends to watch for include:
- Potential impacts of geopolitical events on global supply chains affecting import costs and availability.
- Changes in consumer preferences towards healthier cooking oils such as sunflower and safflower oil.
- Possible shifts in agricultural outputs driven by climate change, which could affect oil availability and prices.
