Based on the given data, Egypt's palm oil import in 2023 stood at 1.22 million metric tons. The forecasted figures for 2024 through 2028 indicate a steady increase: 1.23 million metric tons in 2024, rising to 1.31 million metric tons by 2028. This represents an incremental annual growth of approximately 1.62% per year over this period.
Year-on-year variations show modest but consistent growth: 0.82% from 2023 to 2024, and similar increases each subsequent year through 2028. Over the five-year forecast period, the compound annual growth rate (CAGR) is about 1.62%.
Future trends to watch for include changes in global palm oil prices, domestic policy shifts favoring palm oil alternatives, and potential advancements in agricultural productivity that could impact imports. Additionally, environmental and sustainability concerns may also influence Egypt's import strategies.
