Indonesia remains the leading producer of palm oil with 47.105 million metric tons in 2024, showing a 3.03% year-on-year growth. Malaysia is the second largest producer with 20.928 million metric tons, up by 1.41%. Thailand ranks third, producing 3.2678 million metric tons with a 3.31% increase. Colombia and Guatemala followed with 1.9464 and 1.0928 million metric tons respectively, recording 3.61% and 4.55% growth. Nigeria's production slightly dropped by 0.01% to 1.0495 million metric tons. Peru, Nicaragua, and Panama highlighted strong growth rates of 3.68%, 4.63%, and 4.14% respectively. The Democratic Republic of the Congo saw the largest decline at -4.64% to 0.07805 million metric tons.
Looking ahead, factors to watch in global palm oil production include:
- Sustainability initiatives and regulatory changes impacting production practices.
- Climate change effects on palm oil yield and plantation areas.
- Innovations in agricultural technology potentially boosting yields.
- Market demand fluctuations driven by shifts in consumer preference towards sustainable products.
Top countries in Palm Oil Production by Country
| # | 10 Countries | Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 47,105,000 | 2023 | +3.37% | +3.03% | View data |
| 2 | 2 Malaysia | 20,928,000 | 2023 | +1.24% | +1.41% | View data |
| 3 | 3 Thailand | 3,267,800 | 2023 | +3.51% | +3.31% | View data |
| 4 | 4 Colombia | 1,946,400 | 2023 | +3.4% | +3.61% | View data |
| 5 | 5 Guatemala | 1,092,800 | 2023 | +4.54% | +4.55% | View data |
| 6 | 6 Nigeria | 1,049,500 | 2023 | +0.37% | -0.01% | View data |
| 7 | 7 Honduras | 803,530 | 2023 | +3.44% | +4.33% | View data |
| 8 | 8 Papua New Guinea | 713,170 | 2023 | +2.26% | +2.51% | View data |
| 9 | 9 Ecuador | 656,590 | 2023 | +2.54% | +3.23% | View data |
| 10 | 10 Brazil | 535,060 | 2023 | +3.06% | +3.52% | View data |
