In 2023, the Palm Oil Processing industry in South America stood at 59.0 thousand metric tons. Historically, the industry has exhibited varying growth patterns. From 2014 to 2015, the volume remained flat at 57.0 thousand metric tons. A decline of 5.26% occurred in 2016, but the industry rebounded with a 16.67% increase in 2017. Another dip of 9.52% followed in 2018. The subsequent years saw moderate stabilization, with minor fluctuations leading to a 2023 value of 59.0 thousand metric tons, showing no year-on-year change. Over the last two years, an overall CAGR of 0.69% was recorded, while the five-year forecasted CAGR stands at 0.34%, signaling slower growth ahead.
Future trends to watch for include:
- Increasing demand for sustainable palm oil.
- Potential regulation changes impacting production standards.
- Technological advancements in processing efficiency.
