Analyzing palm kernel oil demand in India reveals a significant decline since 2014. The demand, which stood at 192.0 thousand metric tons in 2014, showed a sharp drop in 2016. A phase of modest recovery and stabilization followed, peaking at 126.0 thousand metric tons in 2018. However, from 2020 onward, a consistent decline continued, reaching 86.0 thousand metric tons in 2023.
Key points:
- The year-on-year decline in 2023 was 5.49%, while the CAGR over the last five years stood at -7.35%.
- Forecasting further into 2028, the CAGR is expected to be -6.23%, with an overall decline of 27.5% compared to 2023.
- The most significant annual drop was in 2016 with a 64.06% decrease.
- Period of recovery between 2016-2018 showing increases of 36.23% and 34.04% year-on-year, respectively.
Future trends to watch include potential regulatory changes, shifts in consumer preferences towards sustainable and healthier oils, and fluctuations in international trade policies which could influence palm kernel oil demand in India.
