In 2023, Angola's palm oil supply stood at 398.0 thousand metric tons. Based on the forecasted data from 2024 to 2028, the supply is projected to increase, reaching 420.0 thousand metric tons by 2028. This implies a consistent year-on-year growth with the following percentage variances: 1.0% from 2023 to 2024, 1.0% from 2024 to 2025, 1.2% from 2025 to 2026, 1.0% from 2026 to 2027, and 1.0% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the five years is approximately 1.1%.
Future trends to watch for:
- Technological advancements in palm oil extraction and processing.
- Government policies on sustainable palm oil production.
- Impact of global market fluctuations and trade regulations.
- Environmental challenges and initiatives aimed at reducing deforestation.
- Development of domestic and regional markets for palm oil products.
