The Palm Kernel Oil Demand in Angola saw a significant upward trend from 2014 to 2023, growing from 7.0 to 11.0 Thousand Metric Tons, with notable fluctuations. In 2020, demand dipped considerably by -17%, likely due to external factors, followed by a rapid recovery in 2021 with a year-on-year increase of 20.48%. The compound annual growth rate (CAGR) over the last five years reached 1.92%.
Forecasts for 2024 onwards predict a steady growth trajectory, with the demand expected to reach 12.25 Thousand Metric Tons by 2028. The estimated CAGR for the next five years stands at 1.68%, translating to an 8.7% overall growth rate.
Future trends to watch for:
- The impact of policy changes on the agricultural sector.
- Fluctuations in global palm oil prices.
- Technological advancements in oil extraction and processing.
- Environmental concerns and sustainable practices in palm oil production.
