In 2023, the domestic consumption of palm kernel oil in South Africa stood at 33.0 thousand metric tons. Forecasted data from 2024 to 2028 indicates a relatively stable consumption trend with minor fluctuations. From 2024 to 2027, the consumption remains constant at 33.0 thousand metric tons, then sees a slight increase to 34.0 thousand metric tons in 2028.
Year-on-year variations are minimal, staying at 0% from 2024 to 2027. However, there is a modest increase of approximately 3.03% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the last five years suggests an average annual growth of around 0.3%.
Future trends to watch for include:
- Potential shifts in consumer preferences towards sustainable and eco-friendly alternatives that may impact demand.- Policy changes or trade agreements affecting palm kernel oil imports.- Technological advancements in oil production that could influence domestic consumption patterns.
