Analyzing data from 2014 to 2023, we see fluctuations in vegetable oil imports in Belgium. There was a significant drop in 2015 (-10.04%) followed by steady increases from 2016 to 2018, peaking at 7.45% in 2018. Post-2018, there were minor variations, averaging a 0.43% increase per year. Looking at compound annual growth rates (CAGR) over the last five years, it shows a stabilization trend at 0.31%, expecting the import volume to reach 1.92 million metric tons by 2028.
Going forward, close attention should be paid to global supply chain changes, agricultural productivity, and policy shifts regarding vegetable oils. These factors may influence future import volumes significantly.
