The palm oil demand in Brazil stood at 615 Thousand Metric Tons in 2023. The period from 2014 to 2023 witnessed a mix of moderate growth and fluctuations. Notably, the year 2015 saw a 10.47% increase in demand, while 2020 experienced a significant decline of 16.16%. Over the last five years, the Compound Annual Growth Rate (CAGR) was 0.83%, indicating steady but slow growth.
Looking ahead, from 2024 onwards, the forecasted CAGR is expected to slightly decrease to 0.69%, projecting a growth rate of 3.5% over the next five years. Key trends to watch for include biodiversity conservation efforts, shifts in consumer preferences towards sustainable products, and potential trade policies impacting palm oil imports and exports.
