palm oil production capacity by companies

                                               
                                               
                                               
                                               
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  • What is the global palm oil market size?
  • The global palm oil market size was valued at USD 70.44 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.1% from 2024 to 2030. The market is driven by exponentially growing demand from the food, beverage, biofuel, energy, personal care, and cosmetics industries.
  • 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
  • How much palm oil is produced in Indonesia?
  • In 2023/24, Indonesian production volume of palm oil amounted to 47 million metric tons. This is more than twice as much as the production volume in Malaysia, which had the second-highest production levels worldwide in that year. Palm oil is an edible vegetable oil commonly used for food products, detergents, and cosmetics.
  • How many people work in the palm oil industry?
  • In the two largest palm oil producers in the world, Indonesia and Malaysia, the palm oil sector directly employs almost 5 million smallholders and workers and indirectly employs an additional 6 million people (Russell, 2018, 2020). The sector is also responsible for an estimated 2.9 million downstream jobs in importing countries (Basiron, 2016).