In 2023, the import volume of refined canola, rape, colza, or mustard oil fractions to the UK was at 86.9 million kilograms. From 2024 onwards, the projected year-on-year growth ranges between 0.89% and 0.80%, reflecting a moderate but steady increase. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is forecasted at approximately 0.85%.
Future trends to watch include:
- Potential impacts of trade policies post-Brexit on import levels.
- Shifts in consumer preferences towards healthier oil options potentially affecting demand.
- Global market volatility and its effect on pricing and supply stability.