In 2023, India's import of Palm Kernel and Babassu Oil, Fractions Simply Refined stood at a higher level before exhibiting a forecasted decline over the following years. The projected imports for 2024 are at 2.4413 million kilograms, gradually decreasing to 2.1468 million kilograms by 2028.
Year-on-year variation shows a slight, steady decline starting 2024, while the forecasted compound annual growth rate (CAGR) over the five-year period indicates an average reduction of import volume annually. This suggests that India is potentially diversifying sources or reducing reliance on these imports due to internal capabilities or shifts in demand.
Future trends to watch for include technological advancements in domestic oil production, potential changes in trade policies affecting import tariffs, and evolving consumer preferences towards alternative oils which could further impact import volumes. Monitoring these factors will be crucial for businesses involved in this trade sector.
