In 2023, China imported 675.50 million kilograms of palm nut or kernel oil cake and other solid residues. The forecast for 2024 shows an import volume of 700.85 million kilograms, showing an increase following a consistent upward trend. From 2024 to 2028, the import volume is projected to grow steadily with a compound annual growth rate (CAGR) of approximately 3.1% over the five years.
Future trends to watch include:
- Potential changes in global palm oil production affecting residue availability.
- Evolving dietary and industrial demands in China influencing import volumes.
- Trade policy shifts impacting sourcing and transportation costs.
- Environmental and sustainability initiatives possibly altering supply chain dynamics.