The demand for palm oil in Angola has shown a declining trend over the last decade. From 2014 to 2023, there was a noticeable decrease with a Compound Annual Growth Rate (CAGR) of -0.44%. The actual demand in 2023 stood at 226.0 thousand metric tons, marking a -0.88% year-on-year decrease. Notably, the period between 2019 and 2020 saw a significant drop of -17.36%, highlighting a period of instability. Although there was a slight recovery in 2021 with a 19.44% increase, the ongoing trend remains downward.
The forecasted data from 2024 to 2028 anticipates a continued decline with an expected 5-year CAGR of -0.53%, equating to an overall reduction of -2.65% by 2028. This indicates a persistent reduced demand trend for palm oil in Angola.
Future Trends to Watch for:
- Economic stability and inflation rates impacting consumer purchasing power.
- Government policies and import regulations affecting supply chains.
- Global palm oil prices influencing local market dynamics.
- Shifts towards alternative oils and fats due to health and sustainability concerns.
