The palm oil price per unit in Belgium showed a significant downward trend from 2011 to 2019, decreasing from 1.48 Euros/kg to 1.06 Euros/kg. The price reduction was more pronounced between 2013 and 2014, with a notable decrease of around 11%. During the last two recorded years of 2018 and 2019, the price decreased by approximately 5.4%. Over the five years leading up to 2019, the compound annual growth rate (CAGR) reflects a consistent decline, averaging around 3% annually.
Future trends to watch for include:
- Climate change impacts on palm oil production, affecting prices.
- Regulatory changes in the European Union concerning sustainable sourcing.
- Fluctuations in global demand, especially related to biodiesel use.
