In 2023, Canada's import of crude palm oil stood at approximately 500 thousand kilograms. The forecasted data from 2024 to 2028 shows a steady increase in import volumes. Year-on-year growth rates are consistent, with increases approximately around 3-3.5% each year.
In terms of compounded growth, the forecast indicates a Compound Annual Growth Rate (CAGR) of about 3% over the five-year period, reflecting a stable and incremental demand trajectory for palm oil imports into Canada.
Future trends to watch for include potential shifts in consumer preferences towards sustainable and responsibly sourced palm oil, as well as regulatory changes impacting import tariffs or environmental compliance requirements. These factors could significantly influence the import volumes and competitive dynamics in the Canadian market.
