Key Market Indicators
Ecuador's palm oil consumption is forecast to reach 150,000 metric tons by 2026, up from 145,000 metric tons in 2021. This rate of growth is an average of 0.6% year-on-year since 2017. Ecuador ranks 23rd in the world when it comes to palm oil consumption, with Mozambique in the top spot back in 2021 at 145,000 metric tons. India, Indonesia, and Nigeria rank 2nd, 3rd, and 4th respectively in this ranking. Meanwhile, Ecuador's palm oil production is expected to hit 706,000 metric tons by 2026, up from 624,000 metric tons in 2021. This rate of growth is an average of 2.1% year-on-year since 1966. Ecuador ranks 9th in the world for palm oil production, with Papua New Guinea in the top spot in 2021 with 624,000 metric tons. Malaysia, Thailand, and Colombia rank 2nd, 3rd, and 4th respectively in this ranking.
