In 2023, Indonesia remained the dominant producer, contributing 58.01 thousand metric tons and growing by 1.14%. Malaysia saw a slight decline by 0.076% with 26.27 thousand metric tons. Other notable producers include Thailand (4.03 thousand metric tons, +1.44%), Colombia (2.45 thousand metric tons, +2.14%), and Nigeria (1.47 thousand metric tons, +0.7%). Emerging producers like Guatemala, Ghana, and Venezuela exhibited significant growth, with increases of 2.64%, 3.01%, and 5.39% respectively. Conversely, Panama experienced a 2.33% decline.
Future trends to watch:
- Indonesia and Malaysia will continue to dominate, but emerging markets like Ghana and Venezuela may see accelerated growth.
- Sustainability practices and regulations could impact production trends across various regions.
- Technological advancements and climate-change mitigations may also influence production efficiency and growth rates.
Top countries in Palm Oil Production Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 58.01 | 2023 | +1.93% | +1.14% | View data |
| 2 | 2 Malaysia | 26.27 | 2023 | -0.01% | -0.076% | View data |
| 3 | 3 Thailand | 4.03 | 2023 | +2.05% | +1.44% | View data |
| 4 | 4 Colombia | 2.45 | 2023 | +2.32% | +2.14% | View data |
| 5 | 5 Nigeria | 1.47 | 2023 | +1.02% | +0.7% | View data |
| 6 | 6 Guatemala | 1.35 | 2023 | +3.21% | +2.64% | View data |
| 7 | 7 Honduras | 0.99 | 2023 | +2.09% | +2.46% | View data |
| 8 | 8 Papua New Guinea | 0.9 | 2023 | +1.07% | +1.22% | View data |
| 9 | 9 Ecuador | 0.8 | 2023 | +1.02% | +1.15% | View data |
| 10 | 10 Ivory Coast | 0.74 | 2023 | +1.49% | +1.14% | View data |
