The global palm oil supply is dominated by Indonesia and Malaysia, with Indonesia supplying significantly more. In 2023, Indonesia's supply grew by 3.53%, while Malaysia saw a decline of 1.37%. Other notable changes include significant growth in Colombia, Guatemala, and Nigeria, with increases of 4.87%, 5.39%, and 4.59% respectively. Russia, Japan, Ghana, and Ukraine experienced declines, highlighting market variability. In 2024, Indonesia is expected to continue leading production, but other countries like India and Brazil may increase their market shares. The competitive landscape might shift due to environmental regulations and innovations in sustainable practices.
Top countries in Palm Oil Supply by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 53,140 | 2023 | -0.31% | +3.53% | View data |
| 2 | 2 Malaysia | 22,710 | 2023 | +4.96% | -1.37% | View data |
| 3 | 3 India | 11,930 | 2023 | +6.25% | +1.14% | View data |
| 4 | 4 China | 7,390 | 2023 | +11.72% | +0.26% | View data |
| 5 | 5 Pakistan | 4,050 | 2023 | +6.73% | +1.21% | View data |
| 6 | 6 Thailand | 3,760 | 2023 | -3.42% | +2.26% | View data |
| 7 | 7 Colombia | 2,910 | 2023 | +4.31% | +4.87% | View data |
| 8 | 8 United States | 2,060 | 2023 | +0.68% | +4.45% | View data |
| 9 | 9 Nigeria | 2,000 | 2023 | +6.21% | +4.59% | View data |
| 10 | 10 Bangladesh | 1,760 | 2023 | +5.84% | -0.94% | View data |
