Key Market Indicators
China's consumption of palm oil is projected to drop by 300,000 metric tons by 2026, from the 2.95 million metric tons it consumed in 2021. This marks an average decline of 0.3% on a yearly basis since 2017. India, Indonesia and Nigeria follow China in terms of palm oil consumption. Similarly, Chinese palm oil production is expected to reach 235,110 metric tons by 2026. This marks a 0.2% average increase each year since 1966. Malaysia, Thailand and Colombia are the second, third and fourth largest producers, respectively. Costa Rica overtook China in 2021 with 232,460 metric tons.
