From 2014 to 2023, the demand for palm kernel oil in Malaysia showed fluctuations, reaching 1.9 million metric tons in 2023. Year-on-year variations highlighted significant changes, with the highest increase of 26.94% in 2017 and the steepest decline of -24.41% in 2016. The CAGR observed in the recent five-year period averaged 0.15%, suggesting modest growth compared to previous periods. Analyzing the data from 2019 to 2023, there was a general stabilization, with a slight growth rate observed overall.
Looking ahead, the forecasted demand from 2024 to 2028 anticipates more stability, with a minor annual growth rate of 0.24% and a five-year growth rate of 1.21%. Future trends to monitor include potential shifts in global market dynamics, environmental regulations, and changes in consumer preferences towards sustainable products, all of which could impact demand.
