In 2023, the palm oil market volume in Angola stood at 209 thousand metric tons, remaining stable compared to the previous year. Between 2014 and 2015, there was a notable increase of 7.69%, followed by modest growth and some fluctuations in the subsequent years, especially a sharp decline of 17% in 2020. The five-year CAGR leading up to 2023 was 0.39%, reflecting gradual recovery and stabilization. The forecasted average annual growth rate from 2024 to 2028 is projected at 0.24%, with an overall growth of 1.2% over this period.
Future trends to watch for:
- Potential impact of climate change on palm oil yield and production.
- Government policies and regulations affecting imports and domestic production.
- Technological advancements in agricultural practices.
- Shifts in global demand and price fluctuations.
