Key Market Indicators
Consumption of palm oil is expected to increase from 42 thousand metric tons in 2021 to almost 44 thousand metric tons by 2026, growing at an average rate of 0.8% each year. Since 2017, demand has grown steadily at an average rate of 0.8% per year. Papua New Guinea was the top consumer in 2021, followed by India, Indonesia, and Nigeria. Production of palm oil is also set to increase, reaching 28,440 metric tons in 2026, growing at a CAGR of 0.7% since 1966. Malaysia, Thailand, and Colombia were the top three producers in 2021.
