In 2023, the US imported an estimated volume of refined maize oil and fractions at a higher level than forecasted for the future. From 2024 onward, predictions indicate a steady decline in import volumes through 2028. Specifically, the year-on-year percentages reflect a gradual reduction: a decrease of 0.86% from 2024 to 2025, 0.85% from 2025 to 2026, 0.84% from 2026 to 2027, and 0.83% from 2027 to 2028. The compound annual growth rate (CAGR) for these years is negative, highlighting a consistent decrease in the import of this commodity.
Looking ahead, factors influencing these downward trends are:
- Potential domestic production increases, reducing reliance on imports.
- Fluctuations in global supply chains and trade policies affecting maize oil availability and pricing.
- Consumer preferences shifting toward alternative oils or domestic products.