Based on the provided forecasted data, palm oil demand in Indonesia was projected at 13.96 million metric tons in 2024. For the following years, the demand steadily increased: 2025 (14.42 million metric tons), 2026 (14.88 million metric tons), 2027 (15.32 million metric tons), and 2028 (15.76 million metric tons). In 2023, the recorded demand stood at X million metric tons.
Year-on-year variations show a consistent upward trend:- From 2024 to 2025, the increase is approximately 3.3%.- From 2025 to 2026, the increase is approximately 3.2%.- From 2026 to 2027, the increase is approximately 3.0%.- From 2027 to 2028, the increase is approximately 2.9%.
The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 will reflect an average yearly increase of around 3.1%.
Future trends to watch for:
- Environmental regulations impacting palm oil production and demand.- Advances in sustainable palm oil farming practices.- Changes in global market dynamics affecting the export and domestic consumption.- Developments in biofuel policies which may influence the usage of palm oil.
