World market for palm oil and other tropical oils

Published 2023년 2월 6일

Tridge summary

Global consumption of tropical oils, including palm, palm kernel, and coconut oils, has seen a significant increase, with a notable 45% rise in the last decade. These oils make up over 40% of the global vegetable oil production and consumption. Indonesia is the world's leading producer of palm oil, while the Philippines and Indonesia dominate coconut oil production. Despite environmental directives, global production is expected to rise, driven by increased productivity rather than deforestation. These oils are crucial in various industries, including food, technical applications, and biofuels, due to their low content of industrial trans fats. The elimination of trans fats, associated with reduced risk of mortality and heart disease, is expected to further boost demand for tropical oils.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

For 30 years, the consumption of tropical oils in the world has increased by more than 5 times, having increased by 45% in the last decade alone. Palm, palm kernel and coconut oils are classified as oils of tropical origin. The first two types are made from the fruits and kernels of the oil palm tree, and coconut oil is made from the dried pulp of the coconut (copra). The share of tropical oils in the world production and consumption of vegetable oils consistently exceeds 40%. Despite the fact that the homeland of the oil palm is West Africa, this plant is successfully cultivated in other countries with a tropical climate. The undisputed world leader in the production of palm oil is Indonesia (60% of the world volume). At the same time, until 2008, the country fought for leadership with the second largest world producer of "palms" - Malaysia (24%). During the period of quarantine restrictions, producing countries faced an acute shortage of labor on plantations. However, since ...

Source: Specagro