From 2014 to 2023, China's palm kernel oil demand saw significant fluctuations with notable peaks and troughs. The value stood at 800.0 thousand metric tons in 2023, marking a modest year-on-year growth of 1.91% and a 5-year CAGR of 1.11%. Key variations include substantial jumps in 2015 (18.33%), 2017 (9.73%), and 2018 (17.73%), while declines occurred in 2016 (-8.29%), 2019 (-2.51%), and 2020 (-2.94%). Overall, the average growth has been positive but volatile.
Looking ahead from 2024, the demand is forecasted to grow at a 5-year CAGR of 1.48%, with an estimated increase of 7.63% over the next five years. Key future trends to watch include fluctuations in global palm oil production, shifts in China’s industrial and consumer demand, and potential regulatory changes aimed at sustainability and environmental protection.
