Key Market Indicators
Demand for Malagasy Palm Oil is expected to rise steadily in the coming years. By 2026, consumption is forecast to reach nearly 37 thousand metric tons, up 3.4% annually from 2021. Since 2017, Malagasy demand has increased by nearly 5% per year on average. In 2021, Malagasy ranked 55th in the world for palm oil consumption, following Sri Lanka at 30 thousand metric tons. India, Indonesia and Nigeria were the top three consumers in 2021. Palm oil production in Madagascar is also set to increase slightly in the coming years. By 2026, output is forecast to reach 4,340 metric tons, up 0.4% annually from 2021. Since 1978, Malagasy supply has increased by an average of 0.3% each year. In 2021, Madagascar ranked 40th in the global production rankings, just behind Sao Tome and Principe at 4,250 metric tons. Malaysia, Thailand and Colombia were the top three producers in 2021.
