In 2023, the import of refined maize oil and fractions to Canada stood at approximately 9.3 million USD, which serves as a benchmark for future forecasts. Moving forward, the projections from 2024 to 2028 indicate a consistent decline in imports, starting at 9.0501 million USD in 2024 and reaching 7.9028 million USD by 2028, reflecting a year-on-year average decrease of approximately 2.6%. The compound annual growth rate (CAGR) is anticipated to be negative, highlighting a gradual reduction in imports over this five-year period.

Future trends to watch for:

Potential changes in consumer preferences towards healthier oils or alternatives could accelerate the decline.
Economic or trade policy shifts, both domestically in Canada or internationally, could further impact the forecasted import trends.
Technological advancements in oil production might influence local production capabilities, potentially reducing dependency on imports.