From 2023 to 2028, Canada's forecasted imports of sunflower seed, safflower, or cotton-seed oil show a declining trend, starting at 44.76 million USD in 2024 and decreasing annually to 43.369 million USD by 2028. The decrease is gradual, with a year-on-year reduction averaging around 0.6% for the forecasted period. The cumulative annual growth rate (CAGR) over the five-year span displays a slight negative trajectory, indicating a potential decrease in import dependence or changes in domestic demand.
Future trends to watch include potential shifts in domestic oil production capabilities, changes in consumer preferences towards alternative oils, and international market dynamics affecting prices or availability of these oils. Monitoring trade agreements and tariffs will also be crucial as they may impact future import volumes and values.
