Indonesia and Malaysia dominate the global palm oil export market, accounting for 55.8% and 32.54% shares respectively in 2024. Papua New Guinea and Honduras showed substantial growth with year-on-year increases of 6.98% and 10.25%. Conversely, Ecuador and Benin exhibited declines of 7.84% and 8.64% respectively. Emerging exporters like Peru (up 11.51%) and Djibouti (up 33.64%) experienced significant growth, indicating potential market shifts. While the U.S. also increased its export share by 14.87%, major exporters like Colombia and Kenya showed minor declines.
Future trends to watch:
- Increasing export contributions from countries like Peru and Honduras indicate a diversification in global supply sources.
- Potential market instability in traditionally strong exporters like Malaysia with a negative year-on-year variation.
- Close monitoring of emerging players leveraging their year-on-year growth to potentially disrupt market dynamics.
Top countries in Palm Oil Export Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 55.8 | 2023 | +0.79% | +0.015% | View data |
| 2 | 2 Malaysia | 32.54 | 2023 | +7.46% | -2.12% | View data |
| 3 | 3 Guatemala | 1.73 | 2023 | +1.74% | +1.11% | View data |
| 4 | 4 Papua New Guinea | 1.58 | 2023 | 0% | +6.98% | View data |
| 5 | 5 Colombia | 1.33 | 2023 | +35% | -0.059% | View data |
| 6 | 6 Thailand | 1.13 | 2023 | -36.11% | +16.41% | View data |
| 7 | 7 Honduras | 0.86 | 2023 | -3.33% | +10.25% | View data |
| 8 | 8 Ivory Coast | 0.74 | 2023 | +50% | +5.2% | View data |
| 9 | 9 Costa Rica | 0.46 | 2023 | -2.08% | +2.18% | View data |
| 10 | 10 United Arab Emirates | 0.37 | 2023 | 0% | +2.25% | View data |
