In 2023, the import of flours and meals of oil seeds or oleaginous fruits to the UK stood at a higher figure compared to the forecast for 2024 to 2028. The forecast indicates a consistent year-on-year decline from 2024, starting with 6.717 million kilograms, down to 4.1593 million kilograms by 2028. This suggests a compound annual growth rate (CAGR) reflecting a decreasing trend over these five years.
Future trends to watch for include:
- Potential shifts in UK dietary and agricultural policies impacting import demand.
- Macroeconomic factors like trade agreements and currency fluctuations influencing import volumes.
- Technological advancements in domestic production possibly reducing reliance on imports.