Singapore's palm oil export forecast indicates a steady growth from 85.0 thousand metric tons in 2024 to 101.0 thousand metric tons in 2028. The consistent increase suggests a positive outlook for palm oil exports over the next five years.
When we examine year-on-year variations, the palm oil export volume is expected to rise by approximately 4.7% each year. Specifically, the forecasted values depict an annual growth of 4 metric tons from 2024 to 2025, then progressively increasing by the same amount year-on-year till 2028.
By comparing the 2024 forecast of 85.0 thousand metric tons with the 2023 actual figure, the year-on-year variation for the last year reflects an increase, indicating a continued upward trend. Over the most recent five-year period, this translates to a compound annual growth rate (CAGR) of around 4.35%.
Future trends to watch include potential shifts in global demand for palm oil, changes in trade policies, and sustainability practices within the industry, all of which could impact export volumes. Monitoring these factors will be crucial for accurately predicting long-term trends in Singapore's palm oil export market.
