In 2023, Indonesia dominated the global vegetable oils export market, with a significant volume of exports, exhibiting slight growth. Malaysia followed, though it faced a decrease in export volume. Other notable exporters included Ukraine, Netherlands, and Argentina, showing increments in exports. Countries like Brazil and the Philippines experienced minimal fluctuations. Emerging exporters such as Guatemala and Colombia showed remarkable growth. Several European countries held smaller shares, with mixed variations. Africa and the Middle East also contributed, albeit with modest volumes. Amongst smaller economies, Liberia and Gabon reported high percentage growth, showcasing potential.
Future trends to monitor include the recovery of Ukrainian exports amidst geopolitical tensions, sustainability and trade policy impacts from major producers like Indonesia and Malaysia, and the influence of technological advancements on export efficiencies. The role of biotechnology in vegetable oil crop yield improvements could also redefine export dynamics, alongside shifts in dietary preferences affecting global demand. Watch for new market entrants from the African continent and potential disruptions from climate change which could alter traditional production patterns.
Top countries in Vegetable Oils Export Volume by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 35,990 | 2023 | +1.31% | +1.02% | View data |
| 2 | 2 Malaysia | 16,490 | 2023 | -0.64% | -1.05% | View data |
| 3 | 3 Ukraine | 6,550 | 2023 | +1.76% | +1.74% | View data |
| 4 | 4 Netherlands | 6,070 | 2023 | +1.9% | +2.32% | View data |
| 5 | 5 Argentina | 5,440 | 2023 | +0.17% | +1.99% | View data |
| 6 | 6 Canada | 3,910 | 2023 | +1.85% | +1.66% | View data |
| 7 | 7 Russia | 3,720 | 2023 | +1.98% | +1.79% | View data |
| 8 | 8 United States | 2,400 | 2023 | +0.17% | +0.53% | View data |
| 9 | 9 Germany | 2,210 | 2023 | -0.32% | +0.54% | View data |
| 10 | 10 Spain | 2,050 | 2023 | +0.098% | -0.29% | View data |
