"Palma" is growing, the pandemic has set new trends in global production and consumption of palm oil
RBD Palm Oil
Published Jun 25, 2021
Tridge summary
The world production of palm oil is growing. Prices for it are rising against the backdrop of a revival of the global economy as the COVID-19 pandemic weakens.In recent years, palm oil is by far the first most popular in the global vegetable oil market. From 2011 to 2020, global palm oil production increased annually by an average of 4.1%, and world trade in it - by 3%.
Original content
In the 2020/21 season, almost 73.7 million tons of palm oil were produced in the world, and in 2021/22 its output is projected to increase to 76.4 million tons. For comparison: soybean oil production is expected to be at 62.2 million tons. , rapeseed - 29.0 million tons, sunflower - 21.2 million tons. The average annual production of palm oil over the past five years exceeded the production of soybean oil by 27%, rapeseed - 2.6 times, sunflower - 3.6 times. More than 84% of all palm oil production in the world is concentrated in two countries: Indonesia (57% of world production) and Malaysia (27%). The same countries dominate world trade, occupying about 90% of the market, including Indonesia accounting for about 57% of world exports, Malaysia - 33%. Palm oil is exported annually in the world in the amount of USD 29–33 billion. Exports in 2020/21 are estimated at 50.1 million tons, in 2021/22 it may reach 52 million tons. For comparison: world exports of soybean oil in the next ...
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