The forecasted import values of fixed vegetable fats and oils to Singapore are as follows (in Million US Dollars):
- 2024: 79.506
- 2025: 81.592
- 2026: 83.636
- 2027: 85.639
- 2028: 87.602
Year-on-year variations are as follows:
- 2024-2025: 2.63%
- 2025-2026: 2.51%
- 2026-2027: 2.39%
- 2027-2028: 2.29%
The compound annual growth rate (CAGR) over the five years is approximately 2.45%.
The consistent growth in the import values indicates an upward trend. Factors such as increasing demand for health-conscious food products, economic growth, and advancements in the food processing sector are likely to drive future imports. Monitoring global supply chain fluctuations and potential changes in trade policies will be crucial in understanding future market dynamics.
