The palm oil market in Oceania has shown varied growth trends over the last decade. In 2023, the volume stood at 112.0 Thousand Metric Tons, with year-on-year growth of 0.9%. The average compound annual growth rate (CAGR) over the past five years was 1.11%. Significant fluctuations were observed, such as in 2016 with a 7.22% increase, and in 2020, a 4.12% decrease.
Highlights of year-on-year changes include:
- 2015: 3.19% increase
- 2016: 7.22% increase
- 2017: 4.81% increase
- 2018: -2.75% decrease
- 2019: 1.89% increase
- 2020: -4.12% decrease
- 2021: 6.23% increase
- 2022: 0.91% increase
- 2023: 0.9% increase
The forecast for 2028 suggests a modest 0.71% CAGR and an overall growth rate of 3.58% for the next five years. Going forward, critical trends include sustainable sourcing practices and the impact of regulatory changes on production and import policies. Monitoring advancements in eco-friendly palm oil production and consumption patterns in key industries will be essential.
