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Palm oil: top exporters and importers (2024)

In 2024, world trade in palm oil totaled $42.6 billion (43.1 million tonnes). The top exporters were Indonesia (49%), Malaysia (34%) and the Netherlands (2%); the top importers were India (20%), China (7%) and Pakistan (6%). Compared with 2019, the value rose 33%.

Summary

World trade
$42.6billion
Tonnes
43.1million tonnes
Price per tonne
$989
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. Indonesia$20.7 billion · 48.7%
    see destinations
  2. Malaysia$14.6 billion · 34.2%
    see destinations
  3. Netherlands$862 million · 2%
    re-exports
  4. Thailand$827 million · 1.9%
  5. Papua New Guinea$684 million · 1.6%
  6. Guatemala$563 million · 1.3%
  7. Colombia$402 million · 0.94%
  8. Honduras$401 million · 0.94%
  9. Côte d'Ivoire$316 million · 0.74%
  10. Italy$305 million · 0.72%
  11. Estonia$284 million · 0.67%
  12. Germany$255 million · 0.6%
  13. Costa Rica$183 million · 0.43%
  14. Spain$166 million · 0.39%
  15. Peru$132 million · 0.31%
  16. Ecuador$128 million · 0.3%
  17. Belgium$119 million · 0.28%
    re-exports
  18. Singapore$104 million · 0.24%
    re-exports
  19. Gabon$100 million · 0.24%
  20. Turkey$94 million · 0.22%

Top importers

  1. India$8.4 billion · 19.8%
    see sources
  2. China$3.1 billion · 7.4%
    see sources
  3. Pakistan$2.7 billion · 6.4%
    see sources
  4. United States$1.9 billion · 4.4%
    see sources
  5. Netherlands$1.6 billion · 3.9%
    re-exports · see sources
  6. Bangladesh$1.3 billion · 3.1%
  7. Italy$1.3 billion · 3.1%
  8. Egypt$1.2 billion · 2.9%
  9. Saudi Arabia$1.2 billion · 2.8%
  10. Vietnam$992 million · 2.3%
  11. Philippines$943 million · 2.2%
  12. Kenya$870 million · 2%
  13. Russia$832 million · 2%
  14. Germany$750 million · 1.8%
  15. Turkey$725 million · 1.7%
  16. Japan$648 million · 1.5%
  17. Myanmar$632 million · 1.5%
  18. Spain$625 million · 1.5%
  19. Mexico$602 million · 1.4%
  20. South Korea$587 million · 1.4%

Trend

Who sells it

Indonesia has been the top exporter since 2012

Value in USD billions. The five largest exporters in 2024.

  • Indonesia 20.7
  • Malaysia 14.6
  • Netherlands 0.86
  • Thailand 0.83
  • Papua New Guinea 0.68

Source: CEPII BACI

Show the numbers
Country19952024
Indonesia0.8720.7
Malaysia3.714.6
Netherlands0.180.86
Thailand0.010.83
Papua New Guinea0.150.68

Price

Implied price

The price per tonne rose 45% since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $989

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$681
1996$570
1997$572
1998$612
1999$471
2000$339
2001$321
2002$403
2003$561
2004$503
2005$455
2006$466
2007$691
2008$967
2009$688
2010$844
2011$1,107
2012$985
2013$832
2014$854
2015$673
2016$708
2017$761
2018$686
2019$607
2020$714
2021$1,060
2022$1,262
2023$1,008
2024$989

What it includes

  • 1511 · Palm oil

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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