Based on the given data, the palm kernel oil market in Malaysia is forecasted to grow steadily from 2024 to 2028. In 2023, the actual volume stood at a certain value, and looking forward, we see moderate but consistent increases each year. Specifically, the volume is projected to increase from 148.8 thousand metric tons in 2024 to 151.7 thousand metric tons in 2028. The year-on-year variation from 2024 to 2025 is approximately 0.5%, from 2025 to 2026 around 0.5%, and so forth.
Key points include:
- The volume in 2024 is forecasted to be 148.8 thousand metric tons.
- By 2028, the volume is projected to reach 151.7 thousand metric tons.
- Consistent year-on-year growth, remaining around 0.5% annually.
- 5-year CAGR indicating a steady annual increase.
Future trends to watch for include potential changes in global demand, shifts in agricultural practices, regulatory changes, and their impact on supply chains. Additionally, sustainability concerns and advancements in alternative oils could influence market dynamics.