The demand for sunflowerseed oil in Angola has shown a fluctuating trend from 2014 to the present, capturing significant growth peaks and contractions. In specific terms, the value stood at 20.0 Thousand Metric Tons in 2023. From 2014 to 2016, demand skyrocketed with the highest year-on-year jump of 180% in 2016. However, this was followed by a 30% decline in 2018, reflecting volatility in the market. Recent years have seen more stable growth, with a 5.26% increase from 2022 to 2023 and a Compound Annual Growth Rate (CAGR) of 7.39% over the last five years.
Future trends to keep an eye on include:
- Forecasts predict a steady incline with a projected CAGR of 3.06% from 2024 to 2028
- Potential influences from global market conditions, trade policies, and local agricultural developments
- Technological advancements in oil extraction and processing might improve efficiency and output