In 2023, Indonesia and Malaysia dominated global palm oil production, contributing 59.15 thousand metric tons and 23.91 thousand metric tons, respectively. Together, these two countries form the core of global production, with Indonesia showing a 2.52% year-on-year growth, while Malaysia experienced a 1.79% decline. Additionally, countries like Nigeria and Peru are emerging producers, witnessing growth rates of 5.83% and 8.37%, respectively.
Future trends to watch:
- Continued growth in Southeast Asia, with attention on sustainable practices and productivity improvements.
- Expansion potential in Africa and Latin America, driven by increased investments and technological advancements.
- Monitoring policy changes and environmental impacts that could affect production diversification and export dynamics.
Top countries in Palm Oil Production Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 59.15 | 2023 | +2.17% | +2.52% | View data |
| 2 | 2 Malaysia | 23.91 | 2023 | +3.33% | -1.79% | View data |
| 3 | 3 Thailand | 4.34 | 2023 | +1.02% | +2.6% | View data |
| 4 | 4 Colombia | 2.39 | 2023 | +5.56% | +3.16% | View data |
| 5 | 5 Nigeria | 1.89 | 2023 | +7.14% | +5.83% | View data |
| 6 | 6 Guatemala | 1.16 | 2023 | +1.1% | +1.31% | View data |
| 7 | 7 Papua New Guinea | 1.01 | 2023 | +2.56% | +2.56% | View data |
| 8 | 8 Ivory Coast | 0.76 | 2023 | 0% | +3.14% | View data |
| 9 | 9 Honduras | 0.75 | 2023 | -0.83% | +0.51% | View data |
| 10 | 10 Brazil | 0.74 | 2023 | +2.63% | +2.19% | View data |
