The demand for cottonseed oil in Africa has exhibited variability over the past decade. In 2023, the demand stood at 310.0 thousand metric tons, a marginal increase of 0.32% year-on-year from 2022. The Compound Annual Growth Rate (CAGR) over the last 5 years was 0%, indicating stagnation in growth. Analyzing the historical data, notable fluctuations include a high of 6.57% in 2017 and a low of -9.27% in 2016. The forecast period from 2024 to 2028 suggests a modest uptick with a 5-year CAGR of 0.33%, projecting the demand to reach 316.6 thousand metric tons by 2028.
The future trends to watch for include:
- Potential impacts of climate change on cotton crop yields, affecting cottonseed oil production volumes.
- Evolving consumer preferences towards healthier oils could influence demand shifts.
- Economic policies and trade agreements within the African continent that could affect import and export dynamics.
- Technological advancements in agricultural practices that could improve cottonseed oil yield and quality.
