The forecast for India's palm oil import volume indicates a steady growth trajectory from 2024 to 2028, with imports rising from 9.28 million metric tons in 2024 to 9.51 million metric tons in 2028. In 2023, actual import volumes stood at approximately 9.2 million metric tons. The year-on-year growth rate is modest, with less than a 1% increase each year, suggesting a stable demand. The five-year compound annual growth rate (CAGR) for this period reflects a consistent, although slow, upward trend.
Looking forward, important trends to monitor include shifts in domestic oil production, potential changes in import policies, the impact of global supply chain dynamics, and consumer preference shifts towards more sustainable products which could influence demand patterns and volume growth.
