The Palm Kernel Oil market in the Philippines is forecasted to experience a mild decline over the coming years. Specifically, the volume is expected to reduce from 99.82 thousand metric tons in 2024 to 95.22 thousand metric tons by 2028. In comparison, the market stood at 100.67 thousand metric tons in 2023, reflecting a gradual decrease over the years.
Year-on-year variations from 2024 to 2028 indicate a steady decline:
- 2024 to 2025: -1.18%
- 2025 to 2026: -1.18%
- 2026 to 2027: -1.17%
- 2027 to 2028: -1.16%
The compound annual growth rate (CAGR) over this forecast period is approximately -1.44%, indicating an average annual decline in volume.
Moving forward, stakeholders should watch for factors such as changes in domestic consumption patterns, government policies affecting agricultural production, and global market trends that could impact supply and pricing. Environmental concerns and sustainable practices may also alter future market dynamics significantly.
