In 2023, Canada's palm kernel oil import volume was 16.0 thousand metric tons. The forecasted data from 2024 to 2028 shows a steady increase: 16.5, 17.0, 17.5, 18.1, and 18.6 thousand metric tons respectively. Year-on-year growth rates from 2024 to 2028 are consistent, averaging around 2.5%. This implies a stable demand increase for palm kernel oil over the forecast period, with a Compound Annual Growth Rate (CAGR) of approximately 2.5% over five years.
Future trends to watch for include potential shifts in consumer preferences towards sustainable and ethically sourced products, which could influence import volumes. Additionally, any changes in trade policies or palm oil production practices could impact market dynamics significantly.
