The global production of palm oil was around 78 million metric tons in the marketing year 2022/23, increasing from approximately 73 million metric tons in 2021/22. In that period, Indonesia and Malaysia were the leading exporters of palm oil worldwide.
Leading palm oil producers
Palm oil grows mainly in Asia, Africa and Latin America. Indonesia and Malaysia are the main palm oil producers, followed by Thailand, Colombia, and Nigeria. Unsurprisingly, Indonesia and Malaysia have the largest certified area planted with palm trees. In 2017, the Roundtable on Sustainable Palm Oil (RSPO) certified area planted with palm trees in Indonesia reached 1.7 million hectares, up from 1.54 million hectares in 2016.
Global market
Import volume of palm oil has increased worldwide over the past few years. According to the World Bank, in 2021, the average price for palm oil stood at 1,131 nominal U.S. dollars per metric ton. It is expected to drop to about 1,054 nominal U.S. dollars per metric ton by 2024.
Production volume of palm oil worldwide from 2012/13 to 2023/24
(in million metric tons)
*Forecast
The data is based on Marketing Years (MY). Most countries are on an October/September Marketing Year (MY).
Data prior to 2019/2020 were taken from previous reports.
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US Department of Agriculture, & USDA Foreign Agricultural Service. (January 12, 2024). Production volume of palm oil worldwide from 2012/13 to 2023/24 (in million metric tons) [Graph]. In Statista. Retrieved November 13, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/613471/palm-oil-production-volume-worldwide/
US Department of Agriculture, und USDA Foreign Agricultural Service. "Production volume of palm oil worldwide from 2012/13 to 2023/24 (in million metric tons)." Chart. January 12, 2024. Statista. Accessed November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/613471/palm-oil-production-volume-worldwide/
US Department of Agriculture, USDA Foreign Agricultural Service. (2024). Production volume of palm oil worldwide from 2012/13 to 2023/24 (in million metric tons). Statista. Statista Inc.. Accessed: November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/613471/palm-oil-production-volume-worldwide/
US Department of Agriculture, and USDA Foreign Agricultural Service. "Production Volume of Palm Oil Worldwide from 2012/13 to 2023/24 (in Million Metric Tons)." Statista, Statista Inc., 12 Jan 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/613471/palm-oil-production-volume-worldwide/
US Department of Agriculture & USDA Foreign Agricultural Service, Production volume of palm oil worldwide from 2012/13 to 2023/24 (in million metric tons) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/613471/palm-oil-production-volume-worldwide/ (last visited November 13, 2024)
Production volume of palm oil worldwide from 2012/13 to 2023/24 (in million metric tons) [Graph], US Department of Agriculture, & USDA Foreign Agricultural Service, January 12, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/613471/palm-oil-production-volume-worldwide/
