The global palm oil import landscape in 2024 presents some interesting trends and variations among countries. India remains the top importer with 9.22 million metric tons, marking yearly growth of 0.92%. China, despite a significant volume of 5.44 million metric tons, experienced a slight decline of 0.48%. Countries such as Pakistan, the United States, and Russia showed consistent yearly growth of over 1%, reflecting increased consumption. Notably, Kenya, Ethiopia, and the Philippines had remarkable growth rates above 3%, indicating rising demand.
Conversely, European nations like Germany and Italy showed notable declines of -3.03% and -1.71%, respectively. African nations also displayed mixed results, with Nigeria having a -1.72% decline while Kenya saw a substantial increase of 4.23%. Emerging trends to watch include Indonesia's shift towards domestic consumption policies, potentially influencing world supply, and climate change impacts on palm oil production in major producing countries.
Top countries in Palm Oil Import Volume by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 9,220 | 2023 | +0.69% | +0.92% | View data |
| 2 | 2 China | 5,440 | 2023 | -0.055% | -0.48% | View data |
| 3 | 3 Pakistan | 3,130 | 2023 | +1.46% | +1.12% | View data |
| 4 | 4 Netherlands | 2,720 | 2023 | +0.7% | +0.39% | View data |
| 5 | 5 Spain | 2,160 | 2023 | +2.37% | +2.25% | View data |
| 6 | 6 Bangladesh | 1,770 | 2023 | +1.03% | +0.5% | View data |
| 7 | 7 United States | 1,640 | 2023 | +1.68% | +1.11% | View data |
| 8 | 8 Italy | 1,250 | 2023 | -2.18% | -1.71% | View data |
| 9 | 9 Russia | 1,140 | 2023 | +2.24% | +1.48% | View data |
| 10 | 10 Nigeria | 1,120 | 2023 | -2.43% | -1.72% | View data |
