The data indicates that Thailand's domestic palm oil consumption was at 2.74 million metric tons in 2023. Forecasted values show a consistent year-on-year growth in consumption: 3.28% in 2024, 3.17% in 2025, 3.06% in 2026, 2.65% in 2027, and 2.90% in 2028. Evaluating the entire period from 2023 to 2028 reveals a compound annual growth rate (CAGR) of 3.01%.
Future trends to watch for:
- Increasing demand due to expansion in food processing and biofuel sectors.
- Government policies aimed at promoting sustainable palm oil production.
- Potential market disruptions due to climate change and geopolitics affecting palm oil supply chains.
