The demand for vegetable oils in Ghana is forecasted to steadily increase from 494.48 thousand metric tons in 2024 to 525.74 thousand metric tons in 2028. This follows a trend from the actual demand of 486.72 thousand metric tons in 2023. Year-on-year growth rates highlight consistent increases: approximately 1.63% from 2024 to 2025, 1.57% from 2025 to 2026, 1.52% from 2026 to 2027, and 1.47% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is around 1.55%, showing a stable upward trajectory.
Future trends to watch for include potential impacts of agricultural policies and climatic changes on oil crop production, changes in consumer preferences towards healthier oils, and fluctuations in global oil prices that could affect import levels. Monitoring these factors will be crucial for accurately projecting long-term demand dynamics.
