The forecast for UK's import of refined maize oil from 2024 to 2028 suggests a continuous decline in volume, beginning with 1.1954 million kilograms in 2024, dropping to 0.39479 million kilograms by 2028. In comparison, the actual imports in 2023 stood at similar levels as projected for 2024, indicating a consistent descent. The year-on-year percentage change demonstrates a steady decline, with significant drops, notably a 17.24% year-on-year decrease expected from 2024 to 2025 and on through to 2028. The compound annual growth rate (CAGR) over the five years projects an average annual reduction of approximately 25.21%.
Future trends to watch in the refined maize oil market include global supply chain adjustments, potential tariffs or trade restrictions, and shifts in consumer preference towards healthier oil alternatives. Monitoring these trends will be essential for forecasting demand and adjusting import strategies. Additionally, sustainability and environmental impacts might increasingly influence the refined maize oil sector.
