The demand for palm kernel oil in Ghana is projected to increase steadily from 41.86 thousand metric tons in 2024 to 45.36 thousand metric tons in 2028. This forecast suggests an average year-on-year growth rate of approximately 2.5%. The data indicates a consistent upward trend in the demand for palm kernel oil with moderate growth over the coming years.
Key variations to note include:
- Demand increases from 2024 to 2025 by 2.15%
- Demand increases from 2025 to 2026 by 2.08%
- Demand increases from 2026 to 2027 by 1.97%
- Demand increases from 2027 to 2028 by 1.91%
The compound annual growth rate (CAGR) over the forecasted five years is approximately 2.03%, reflecting a stable increase in demand over the long term.
Future trends to watch for include potential changes in domestic and international trade policies, advancements in palm oil processing technology, and shifts in consumer preferences towards sustainable and organic products, which may impact both production and consumption patterns in Ghana.
