The UK’s forecast for the import of sunflower or safflower oil and fractions that are simply refined is projected to gradually decrease from 2024 through 2028. In 2023, the volume was slightly higher in comparison to the forecasted 2024 figures, reflecting a downward trend. The year-on-year decrease in import volume from 2024 to 2025 is approximately 7.8%, and from 2025 to 2026 is about 8.3%. This consistent decline continues towards 2028, demonstrating a compounded annual growth rate (CAGR) of approximately -8.6% over five years.
Future trends to watch for include:
- Potential impacts of changes in trade policies or tariffs affecting import rates.
- Shifts in consumer demand towards alternative oils, which may further influence import volumes.
- Price fluctuations in the global market, driven by harvest yields and geopolitical factors.
