In 2024, Indonesia and Malaysia continue to dominate the global palm oil export market, collectively holding 86.64% of the market share. Over the past year, Indonesia's exports grew by 3.29%, while Malaysia's slightly declined by 0.14%. Noteworthy growth was observed in countries like Colombia and Peru, with year-on-year increases of 3.8% and 4.14%, respectively. Smaller markets, such as Botswana and Mozambique, showed significant growth, with increases of 109.17% and 26.71%. Conversely, markets like Singapore and Japan faced substantial declines, at -35.2% and -27.39%, respectively.
Looking forward, the global palm oil market may experience shifts due to sustainability concerns and regulatory changes, particularly in Europe. The adoption of sustainable palm oil certifications could influence market dynamics, potentially benefiting countries prioritizing eco-friendly production. Additionally, geopolitical developments and trade agreements could reshape export landscapes, impacting growth potential for emerging markets.
Top countries in Export of Palm Oil Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 60.04 | 2023 | +2.41% | +3.29% | View data |
| 2 | 2 Malaysia | 26.6 | 2023 | -0.79% | -0.14% | View data |
| 3 | 3 Netherlands | 3.18 | 2023 | -0.28% | +1.02% | View data |
| 4 | 4 Colombia | 1.66 | 2023 | +4.32% | +3.8% | View data |
| 5 | 5 Germany | 1.17 | 2023 | +1.93% | +2.99% | View data |
| 6 | 6 Thailand | 0.7 | 2023 | +1.73% | +0.26% | View data |
| 7 | 7 Ecuador | 0.68 | 2023 | +1.38% | +2.34% | View data |
| 8 | 8 Ivory Coast | 0.61 | 2023 | +1.51% | +0.94% | View data |
| 9 | 9 Italy | 0.51 | 2023 | +3.75% | +3.48% | View data |
| 10 | 10 Denmark | 0.42 | 2023 | +3.74% | +2.62% | View data |
