Indonesia's palm oil domestic consumption is poised for steady growth, with forecasted values rising from 21.8 million metric tons in 2024 to 27.37 million metric tons in 2028. This represents a consistent year-on-year increase. The consumption in 2023 stood at 20.4 million metric tons, establishing a clear upward trajectory starting from then.
Year-on-year variations exhibit:
- 2024: 6.86% increase
- 2025: 6.51% increase
- 2026: 5.99% increase
- 2027: 5.65% increase
- 2028: 5.27% increase
This five-year period showcases an average CAGR of 6.05%, indicating robust and sustained growth in domestic consumption.
Future trends to watch for include shifts in domestic policies affecting palm oil production, potential changes in international trade dynamics, and evolving consumption patterns driven by economic growth and changing dietary preferences.
