Key Market Indicators
Malaysia is set to see a modest increase in its palm oil consumption over the next five years. By 2026, it is projected that the country's consumption will reach 224 thousand metric tons, a 0.3% year-on-year average increase since 2017. In 2021, it was the 16th highest consumer, overtaken by Italy at 219 thousand metric tons. India, Indonesia and Nigeria ranked 2nd, 3rd and 4th respectively. Meanwhile, Malaysian palm oil production is expected to increase 1% year-on-year on average to reach 21.7 million metric tons by 2026. Since 1966, supply has risen 3.3% on an annual basis. In 2021, Indonesia was the largest producer at 20.4 million metric tons, while Malaysia, Thailand and Colombia were 2nd, 3rd and 4th respectively.