In 2023, the UK imported approximately 90.0 million kilograms of crude palm oil, marking the last recorded actual data. Forecasted figures from 2024 suggest a steady increase in imports: 92.374 million kilograms in 2024 and reaching 101.64 million kilograms by 2028. Year-on-year growth shows a consistent rise, with an average compound annual growth rate (CAGR) of approximately 2.4% from 2024 to 2028.
Future trends to watch for:
- Shifts in consumer demand towards sustainable and ethically sourced palm oil, impacting UK import volumes.
- Changes in trade policies or tariffs between key exporting countries and the UK could alter supply dynamics.
- Advancements in alternative oils could reduce dependency on palm oil imports.