In 2023, Indonesia and Malaysia dominated global palm oil production, accounting for over 83% collectively. Indonesia maintained its lead with a 3.03% year-on-year increase, while Malaysia experienced a moderate 1.41% growth. Other significant producers include Thailand and Colombia, both growing above 3%. Notably, Guatemala, Honduras, and Ghana showed impressive growth rates exceeding 4%. Conversely, Nigeria saw a slight decline, and countries like the Democratic Republic of the Congo, Republic of the Congo, and Suriname posted significant negative growth, with the Central African Republic experiencing the most substantial drop.
Future trends to watch include:
- Sustainability concerns likely influencing production methods.
- Potential shifts in production dynamics due to climate change impacts.
- Emerging markets increasing production to meet rising global demand.
- Innovations in cultivation and harvesting methods to enhance yields.
Top countries in Palm Oil Production Share by Country (Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 58.04 | 2023 | +3.37% | +3.03% | View data |
| 2 | 2 Malaysia | 25.79 | 2023 | +1.24% | +1.41% | View data |
| 3 | 3 Thailand | 4.03 | 2023 | +3.51% | +3.31% | View data |
| 4 | 4 Colombia | 2.4 | 2023 | +3.4% | +3.61% | View data |
| 5 | 5 Guatemala | 1.35 | 2023 | +4.54% | +4.55% | View data |
| 6 | 6 Nigeria | 1.29 | 2023 | +0.37% | -0.01% | View data |
| 7 | 7 Honduras | 0.99 | 2023 | +3.44% | +4.33% | View data |
| 8 | 8 Papua New Guinea | 0.88 | 2023 | +2.26% | +2.51% | View data |
| 9 | 9 Ecuador | 0.81 | 2023 | +2.54% | +3.23% | View data |
| 10 | 10 Brazil | 0.66 | 2023 | +3.06% | +3.52% | View data |
