In 2023, the palm oil processing volume in India was 133.0 Thousand Metric Tons. Looking back, from 2014 through 2023, the sector exhibited noticeable fluctuations with significant peaks and declines. The highest annual increase occurred in 2015 with a 21.99% rise, while 2016, 2017, and 2018 saw respective declines of 11.63%, 8.55%, and 3.6%. From 2019 onwards, the sector has been relatively stable but generally declining, with a 2023 year-on-year decrease of 0.75% and a five-year average CAGR of -0.15%.
Looking forward, the industry is forecasted to continue its gradual decline, with a 5-year CAGR of -0.46% anticipated from 2024 to 2028, resulting in an overall reduction of 2.27% by 2028. The sector's stability could be influenced by several factors, including supply chain dynamics, policy changes, and shifts in domestic demand and production capacities. Close attention should be paid to the impact of technological advancements in processing, government regulations on import and export, and global market trends affecting palm oil trade.
