In 2023, actual imports of refined maize oil and fractions to Canada stood at approximately 10.65 million kilograms. Forecasted data suggests a consistent yearly decline from 2024 through 2028, indicating a decreasing import demand. Year-on-year percentage variation reveals a steady decline, averaging a -2.2% CAGR over the five-year forecast period. This trend may suggest a shift towards either increased domestic production or substitution by alternative oils.
Future trends to watch for include:
- Potential changes in domestic maize oil production capabilities.
- Emerging shifts in consumer preferences towards healthier oil alternatives.
- Regulatory changes impacting import tariffs and trade agreements.
- Macro-economic factors that may influence import volumes, such as exchange rate fluctuations.
