The market for Rapeseed Oil and Mustard Oil in Malaysia has demonstrated significant fluctuations over the past decade. Starting from 9.0 thousand metric tons in 2014, the market experienced a notable decrease in 2015 by 11.11% before rebounding strongly in 2016 with a 112.5% growth. Although 2018 saw a decline of 25%, the market regained stability in the following years, culminating in a steady 19.0 thousand metric tons in 2023, reflecting a 0% year-on-year growth and a 5-year CAGR of 4.84%.
Looking ahead, the market is expected to experience moderate growth, with a forecasted CAGR of 2.15% from 2023 to 2028, reaching 21.93 thousand metric tons by 2028. This reflects an overall 11.21% growth over the next five years.
Future trends to watch for include the increasing adoption of healthier cooking oils and potential regulatory changes affecting import and export dynamics. Additionally, shifts in consumer preferences and advancements in oil extraction technologies may influence market trends.
