The palm oil supply in Thailand is expected to grow steadily from 2024 to 2028. The forecasted supply values show an incremental increase from 3.94 million metric tons in 2024 to 4.43 million metric tons in 2028. The data suggests a continued upward trend in palm oil production, reflecting a positive growth trajectory. In 2023, the actual supply of palm oil was recorded, and these forecasted values indicate a consistent year-on-year increase.
Key variations year-on-year:
- 2024 to 2025: increase of approximately 3.3%.
- 2025 to 2026: increase of approximately 2.9%.
- 2026 to 2027: increase of approximately 2.9%.
- 2027 to 2028: increase of approximately 2.8%.
The compound annual growth rate (CAGR) over the 5-year period (2024-2028) is around 2.8%, indicating a stable and moderate growth in the palm oil supply within the country.
Future trends to watch for include potential impacts of climate change on palm oil yield, shifts in global demand for palm oil due to health trends and biofuel policies, and technological advancements in palm oil cultivation and processing which could further enhance productivity and sustainability.
