Analysis of global palm oil production by country in 2024 reveals Indonesia and Malaysia dominate the market, producing 47.0 and 19.0 million metric tons, respectively. Thailand and Colombia follow with 3.45 and 1.9 million metric tons. Notable smaller producers include Nigeria (1.5) and Guatemala (0.92). The Year-on-Year (YoY) variations show positive trends in major producers: Indonesia (+2.52%), Thailand (+2.6%), and Colombia (+3.16%). Conversely, Malaysia shows a slight decline (-1.79%). The highest YoY growth rates were observed in Peru (+8.37%) and Mexico (+5.83%). Over the past five years, the global palm oil market grew consistently, with smaller producers showing steady year-to-year gains.
Future trends to watch include potential shifts in production due to environmental policies, technological advancements in sustainable farming, and geopolitical factors affecting key producing regions. Monitoring the impact of these variables will provide critical insights into the global palm oil supply chain.
Top countries in Palm Oil Production by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 47,000 | 2023 | +2.17% | +2.52% | View data |
| 2 | 2 Malaysia | 19,000 | 2023 | +3.33% | -1.79% | View data |
| 3 | 3 Thailand | 3,450 | 2023 | +1.02% | +2.6% | View data |
| 4 | 4 Colombia | 1,900 | 2023 | +5.56% | +3.16% | View data |
| 5 | 5 Nigeria | 1,500 | 2023 | +7.14% | +5.83% | View data |
| 6 | 6 Guatemala | 920 | 2023 | +1.1% | +1.31% | View data |
| 7 | 7 Papua New Guinea | 800 | 2023 | +2.56% | +2.56% | View data |
| 8 | 8 Ivory Coast | 600 | 2023 | 0% | +3.14% | View data |
| 9 | 9 Honduras | 595 | 2023 | -0.83% | +0.51% | View data |
| 10 | 10 Brazil | 585 | 2023 | +2.63% | +2.19% | View data |
