The soybean oil import volume in Angola has experienced various fluctuations between 2014 and 2023. From a low of 60 thousand metric tons in 2015, the volume increased dramatically in 2017 to 107 thousand metric tons. Subsequent years showed more stable growth with a notable recovery in 2021 at 88 thousand metric tons. In 2023, the import volume stood at 90 thousand metric tons, reflecting a year-on-year increase of 1.12% and a compound annual growth rate (CAGR) of 2.38% over the last five years.
Future trends to watch for:
- Continued moderate growth in soybean oil imports is anticipated, with the forecasted annual growth rate at 0.89% over the next five years.
- By the end of 2028, the import volume is expected to reach 95.24 thousand metric tons, representing a total growth rate of 4.54% from 2023.
- Potential factors influencing future import volumes include shifts in domestic production capabilities, global market prices, and changes in consumer demand within Angola.
