In 2023, India led global vegetable oil imports with a volume of 15.69 million metric tons, representing a significant growth trend with a 1.48% year-on-year increase. Notably, countries like Spain, Kenya, Myanmar, and Mozambique demonstrated notable import growths, with increases of over 2% each. In contrast, Italy, Germany, and Nigeria saw declines. Over the past five years, the compound annual growth rate (CAGR) for most major importers reflects steady or slight increases, underscoring stable demand in key markets.
Looking ahead, rising awareness of health benefits and food security concerns will likely drive further increases in vegetable oil imports. Watch for shifts in sourcing patterns as sustainability and geopolitical tensions continue to impact trade dynamics worldwide.
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 15,690 | 2023 | +1.13% | +1.48% | View data |
| 2 | 2 China | 9,870 | 2023 | 0% | 0% | View data |
| 3 | 3 Netherlands | 8,440 | 2023 | +1.77% | +1.53% | View data |
| 4 | 4 United States | 5,910 | 2023 | +1.11% | +1.14% | View data |
| 5 | 5 Spain | 4,060 | 2023 | +2.42% | +2.75% | View data |
| 6 | 6 Pakistan | 3,290 | 2023 | +1.39% | +1.14% | View data |
| 7 | 7 Italy | 3,160 | 2023 | -0.54% | -0.6% | View data |
| 8 | 8 Bangladesh | 2,860 | 2023 | +1.56% | +1.17% | View data |
| 9 | 9 Germany | 2,600 | 2023 | -1.81% | -1.06% | View data |
| 10 | 10 Malaysia | 2,530 | 2023 | +1.6% | +0.77% | View data |
