In 2023, the actual supply of palm oil in Singapore stood at 205.0 thousand metric tons. Beginning in 2024, forecast data predicts a continual increase, reaching 210.0 thousand metric tons in 2024 and steadily climbing to 225.0 thousand metric tons by 2028. Notably, the year-on-year variation from 2024 to 2025 is approximately 1.9%, from 2025 to 2026 is around 1.9%, and from 2026 to 2027 is about 1.4%. From 2027 to 2028, the increase is approximately 1.8%. The five-year compound annual growth rate (CAGR) from 2024 to 2028 is estimated at 1.8%.
Future trends to watch for include global shifts in palm oil demand, sustainability practices, and regulatory changes impacting imports. Additionally, technological advancements in palm oil production and alternative oils might influence future supply dynamics.
