Based on the forecasted data from 2024 to 2028, the demand for rapeseed oil and mustard oil in Thailand is expected to consistently increase. In 2023, the actual demand stood at 4.05 thousand metric tons. The year-on-year variation in percentages shows a steady growth pattern: in 2024, the demand increases by 4%, followed by increases of approximately 4% annually through 2028. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is around 3.6%.
Future trends to watch for include:
-Potential impacts of global oil price fluctuations on local demand.
-Changes in consumer dietary preferences towards healthier oils.
-Government policies promoting local agricultural production.
-Industrial applications that may increase the usage of these oils.
Monitoring these factors could provide deeper insights into demand variations and help in strategic planning.
