In 2023, the actual palm oil supply in Ghana stood at approximately 543.0 thousand metric tons. Looking at the forecasted data for 2024 to 2028, we observe a consistent year-on-year increase:
- 2024: 551.0 thousand metric tons
- 2025: 559.0 thousand metric tons
- 2026: 566.0 thousand metric tons
- 2027: 573.0 thousand metric tons
- 2028: 580.0 thousand metric tons
The forecasted annual growth rates are as follows:
- 2023-2024: 1.47%
- 2024-2025: 1.45%
- 2025-2026: 1.25%
- 2026-2027: 1.23%
- 2027-2028: 1.22%
The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is approximately 1.32%, indicating a steady but slight increase in palm oil supply over the five-year period.
Future trends to watch for include potential increases in domestic demand, changes in export markets, technological advancements in palm oil production, and climate impacts on yield. Monitoring these factors could provide a deeper understanding of supply dynamics and potential opportunities or challenges in the palm oil industry in Ghana.
