Groundnut oil demand in Angola has seen significant growth over the past decade. In 2023, demand stood at 36 Thousand Metric Tons, reflecting a YoY increase of 2.86% and a 5-year CAGR of 3.04%. The period from 2014 to 2023 displayed various fluctuations, including notable increases in 2016 (25%) and 2017 (28%), followed by a marked decrease in 2020 (-14.41%). Recent trends show moderate growth, with a 24.13% rise in 2021, stabilizing to around 2.86% in 2023.
Forecasts for 2024-2028 anticipate a steady annual growth, with a projected YoY increase of 2.07% and a cumulative 5-year growth rate of 10.77%. By 2028, demand is expected to reach 41.04 Thousand Metric Tons.
Future trends to watch for include potential impacts from economic factors, changes in agricultural practices, and global oil market fluctuations, which could affect the supply and price of groundnut oil.
