Analysts predict the growth of the global market of vegetable oils

The vegetable oil market is projected to see significant growth from 660 million tons to 850 million tons by 2035-2038, with oil consumption also expected to rise by 150 million tons in the next decade, according to Oleksiy Tartakivskyi, an market analyst. India is anticipated to increase its oil consumption by 10 million tons, while Europe, a net exporter of rapeseed and soybean oil, imports sunflower and palm oil. There has been a noticeable decrease in palm oil imports in Europe in recent years, with oil consumption in the EU reaching 25-27 million tons.