Between 2014 and 2023, Austria's palm oil import volume fluctuated, but overall exhibited a downward trend. The import volume decreased from 43.0 thousand metric tons in 2014 to 33.0 thousand metric tons in 2023. Notably, the volume hit its peak in 2015 with a slight increase but subsequently saw an average annual decline. The most significant year-on-year drop was observed in 2017, with an 18.6% decrease. In recent years, from 2021 to 2023, the import volume saw relatively modest annual declines, highlighting a consistent downward trend.
Key variations over specific periods include:
- 2019 to 2020: -2.78% year-on-year
- 2020 to 2021: -2.86% year-on-year
- 2022 to 2023: -2.94% year-on-year
- 5-year CAGR (2019-2023): -1.73%
- Forecast 5-year CAGR (2023-2028): -1.28%
Looking ahead, the forecast from 2024 onwards predicts a continued gradual reduction in import volumes, reaching 30.0 thousand metric tons by 2028. This indicates a total forecasted decline of 6.25% over five years, suggesting an average annual drop of -1.28%. Future trends to watch for include potential policy changes concerning environmental sustainability and shifts in consumer preferences towards more sustainable oil sources, which could further influence the import dynamics of palm oil in Austria.
