global supplier palm oil production line

                                               
                                               
                                               
                                               
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  • How has palm oil production changed since the 1960s?
  • Palm oil production has increased rapidly since the 1960s. Between 1970 and 2020, the world’s production of palm oil increased by about 40 times. Global production went from only 2 million tonnes to around 80 million tonnes. The change in global production is shown in the chart.3
  • What is the global market for palm oil?
  • According to Grand View Research, the global market for palm oil was valued at $67.3 billion in 2022 and is forecasted to grow at a CAGR of 5.1% from 2023 to 2030. As per Index Mundi, in 2022, Indonesia and Malaysia were the leading exporters of palm oil, while India, China, the EU, and Pakistan remained the leading importers.
  • Why is the palm oil industry a major economic force?
  • The palm oil industry has become a major global economic force in recent years, with production and consumption increasing rapidly. The industry has been particularly successful in Southeast Asia, where large-scale oil palm plantations have been established in countries such as Indonesia and Malaysia.
  • How do palm oil prices intersect with sustainability?
  • Therefore, examining how palm oil prices intersect with the sector’s sustainability is paramount. As with other commodity markets, palm oil prices are largely correlated with shifts in supply and demand and with price movements of competing products, such as other vegetable oils (e.g., sunflower and soybean oil) or biodiesel.