Palm Oil Statistics and Demand

In 1960 Asia’s oil and fat production was 7.5 million tons or 24.12% of the world’s production of oil and fat. However, in 1980 the number leaped to 8.4 million tons or 20.95% of the total world production.

The massive economic growth in China and India has become one of the reasons of there is more demand of vegetable oils. The trend implies that more people favor to have their food prepared with vegetable oils.

Indonesia and Malaysia are known as major CPO producers in the world. 83% of world’s total production come from both countries as well as 92% of world’s total export. In the future, Indonesia’s role will be more significant due to its larger territory compared to Malaysia’s.

Growers in Indonesia are also increasing production of palm oil to meet the global demand spurred by biofuels, with the government looking for it to become the world’s top producer of palm oil.

The year of 2000 marked Asia as the world’s manufacturer of vegetable oil and fat with a primary total production of 39.3 million tons or 37.43% of the total world production. And also in the same year, palm oil became the most produced and internationally traded vegetable oil (40% of all vegetable oils) leaving soybean oil in 21% (FAO 2002).

During the period of 1960-2000, Asia’s production of oil and fat has grown an average of 53.63% year.

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Tags used:
Biofuels  Oil Production  Oil Statistics  Palm Oil  Soybean Oil  Top Producer  Vegetable Oil  Vegetable Oils