Between 2014 and 2023, the demand for palm oil in the United Arab Emirates experienced notable fluctuations. Initially, there was an upward trend, peaking in 2015 with a 6.51% year-on-year increase. However, 2016 saw a significant drop of 28.3%. While there were brief periods of recovery, notably in 2017 and 2021 with increases of 18.39% and 18.99% respectively, the overall trend from 2019 to 2023 showed a declining pattern. By 2023, the demand stood at 233 thousand metric tons, with a year-on-year decrease of 1.27%. The CAGR over the last five years was -1.24%.
Future trends to watch for include:
• A continued gradual decline with a forecasted 5-year CAGR of -1.21%.
• Market innovations and policy changes could potentially alter the forecasted downward trajectory.
• Alternative oils or sustainability initiatives might impact future demand.
• Monitoring economic factors and dietary shifts is crucial for predicting long-term trends.
