Article

IndexBox

World - Crude Palm Oil - Market Analysis, Forecast, Size, Trends And Insights

ID: 202001171579



Latest Report Update: Jan 17, 2020

Following info from Wiki:
In 2016, the global production of palm oil was estimated at 62.6 million tonnes, 2.7 million tonnes more than in 2015. The palm oil production value was estimated at $US39.3 billion in 2016, an increase of $US2.4 billion (or +7%) against the production figure recorded in the previous year. Between 1962 and 1982 global exports of palm oil increased from around half a million to 2.4 million tonnes annually and in 2008 world production of palm oil and palm kernel oil amounted to 48 million tonnes. According to FAO forecasts by 2020 the global demand for palm oil will double, and triple by 2050.
Indonesia is the world's largest producer of palm oil, surpassing Malaysia in 2006, producing more than 20.9 million tonnes, a number that has since risen to over 34.5 million tons (2016 output). Indonesia expects to double production by the end of 2030. At the end of 2010, 60% of the output was exported in the form of crude palm oil. FAO data shows production increased by over 400% between 1994 and 2004, to over 8.7 million metric tonnes.

In 2018–2019 world production of palm oil 73.5 mln tonnes.

Land: IDN