Oil palm fruit production in China demonstrated varied growth from 2013 to 2023, standing at 668.82 thousand metric tons in 2023. Observing a year-on-year increase of 0.095% in 2023 signals a recovery trend post-2020's decline. Over the last two years, the production showed positive year-on-year variations. The Compound Annual Growth Rate (CAGR) for the last five years stands at 0.095%, suggesting steady overall growth.
Key observations:
- 2013 to 2019: Minor fluctuations with occasional declines, peaking at 670 thousand metric tons in 2013.
- 2020: Noteworthy 4.87% drop due to external factors likely impacting production.
- 2021-2023: Gradual positive recovery averaging around 0.09% year-on-year growth.
Future Trends to Watch For:
- Projected gradual increase in production; expected to reach 672.15 thousand metric tons by 2028.
- Stable forecasted growth with a five-year CAGR of 0.08%, indicating a stable yet modest upward trend.
