The palm oil market in South America has shown periods of fluctuation over the past decade, with the volume standing at 1.29 million metric tons in 2023. From 2014 to 2015, there was a notable increase of 10.53%, followed by a decline of 7.53% in 2016. Between 2022 and 2023, the year-on-year variation was 0.16%, indicating a stabilizing trend after previous volatilities. The compound annual growth rate (CAGR) over the last five years is 0.3%.
Looking ahead, the market is expected to grow steadily with an average annual growth rate of 0.16% between 2024 and 2028, leading to a projected volume of 1.3 million metric tons by 2028.
Future trends to watch for:
- Technological advancements in sustainable palm oil farming
- Regulatory changes impacting production and exports
- Shifts in consumer preferences towards eco-friendly products
