Key Highlights
Malaysia was the second-biggest palm oil exporter in 2023-24, with over 16.2 million metric tonnes shipped.
Malaysia's palm oil exports are predicted to expand by 3.3% year over year to 15.6 million metric tons in 2024.
As per palm oil import data, India was the top importer of palm oil, accounting for $11.7 billion in 2022, followed by China, Pakistan, the United States, and the Netherlands.
The biggest palm oil exporters in Malaysia include Wilmar International Limited, Sime Darby Plantation Berhad, and Kuala Lumpur Kepong Berhad.
Palm oil, a versatile and popular vegetable oil, is used in a wide range of applications, including food and biofuels. The oil palm tree, grown exclusively in the tropics, generates high-quality oil that is mostly used for cooking in developing countries. Also, it is used in foods, detergents, cosmetics, and, to a lesser extent, biofuels. Also, Malaysia is currently the world's top palm oil exporter, despite being the second-largest producer after neighboring Indonesia.
When it comes to exporting this oil around the world, one country stands out: Malaysia. But what makes this Southeast Asian country the king of palm oil exports? In this blog, we will discuss palm oil exporters in Malaysia, palm oil importers in India, exporters of palm oil, and useful insights like palm oil import data or palm oil export data.
Why Is the Palm Oil Industry Important in Malaysia?
Palm oil is an important factor in the Malaysian economy. It adds significantly to the GDP and employs hundreds of thousands of people. This economic engine drives the country's growth and provides a living for many Malaysians.
While Malaysia faces problems such as reconciling environmental concerns with economic growth, its long history, favorable conditions, and emphasis on innovation secure its position as a global leader in palm oil exports.
Is Malaysia One of the World's Largest Exporters of Palm Oil?
Yes, Malaysia is one of the world's largest exporters of palm oil, and Malaysia's economy relies heavily on palm oil production, as the country is the world's second-largest producer behind Indonesia. The Malaysian Palm Oil Board (MPOB) is a government entity that promotes and develops the country's palm oil sector.
According to palm oil export data, the global export volume of palm oil in 2023–24 is broken down by nation. In that year, Indonesia was the biggest palm oil exporter, with an export volume of approximately 28.2 million metric tonnes. Malaysia came in second, with over 16.2 million metric tonnes of palm oil exports.
Malaysia Palm Oil Export
In 2022, Malaysia was the world's second-largest exporter of palm oil, with exports totaling $17.7 billion. The top destinations for Malaysian palm oil were India, China, Kenya, Turkey, and the Philippines. Between 2021 and 2022, the fastest-growing export markets for Malaysian palm oil were Saudi Arabia, the Philippines, and Japan.
Palm Oil in Malaysia: Statistics and Facts
Here's a table you can use to compare Malaysian palm oil export and import data for 2023
Data Point | Palm Oil Export data (Million Tons) | Palm Oil Import data (Million Tons) | Difference (Exports - Imports) |
Jan 2023 | 3 | 1 | 2 |
Feb 2023 | 2.5 | 0.5 | 2 |
Mar 2023 | 4 | 0.8 | 3.2 |
Total (Q1) | 9.5 | 2.3 | 7.2 |
Now, discuss Malaysia's role in the global palm oil trade:
In terms of Exports:
Malaysia's palm oil Export Data: 2023:24
Indonesia was the leading palm oil exporter that year, with a total export volume of approximately 28.2 million metric tonnes.
Malaysia was second with about 16.2 million metric tonnes of palm oil exports.
Based on palm oil export data from Malaysia, palm oil exports are predicted to expand by 3.3% year on year to 15.6 million tonnes in 2024, while the export value of palm oil and palm-based commodities is projected to increase by 4.3% to Malaysian ringgit (M$) 110 billion.
In terms of Imports:
Malaysia's palm oil Import Data: 2023:24
According to the most recent palm oil import data from the Malaysian Palm Oil Council (MPOC) for December 2023, Malaysia's palm oil imports for MY 2023/24 (the marketing year beginning November 2023) are expected to be around 30,000 metric tonnes.
Here are some important aspects to consider:
This import figure is much lower than previous years.
The reduction is ascribed to factors such as increased domestic demand for palm oil in Malaysia.
Increased carryover supplies of other vegetable oils from the previous year, especially in India, a significant importer of palm oil.
Who is the largest exporter of palm oil in the world?
While Malaysia has played an important role in the past and continues to do so, Indonesia is the world's largest palm oil exporter today.
According to palm oil export data from 2022, Indonesia exported $28.7 billion in palm oil, compared to Malaysia's $17.7 billion. This positions Indonesia as the clear leader in palm oil exports.
Now, explore the top palm oil exporting countries or exporters of palm oil!
Also Read: Get Actionable Insights from Pomace Olive Oil Export Data
Top Palm Oil Exporting Countries:
Did you know? In 2022, palm oil crude was the world's 246th most traded product (out of 4,648).
Here is the table for palm oil exporting countries or exporters of palm oil:
S No | Palm oil Exporting Countries | Export Value (Billion USD) |
1 | Malaysia | 5 |
2 | Indonesia | 3.8 |
3 | Thailand | 1.16 |
4 | Papua New Guinea | 1 |
5 | Guatemala | 0.842 |
This table shows the top five crude palm oil exporters in Malaysia, ranked by export value in billions of US dollars (USD).
Here is a breakdown of the table.
Country: This column shows the top five countries that exported the most crude palm oil in 2022.
Export value (billion USD): This column represents the expected value of each country's crude palm oil exports in billions of dollars.
For example, the palm oil export data shows that Malaysia was the top exporter of crude palm oil in 2022, with exports worth $5 billion USD. Indonesia finished in second, with exports worth $3.8 billion USD.
Now, explore the top palm oil exporters in malaysia!
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Top Palm Oil Exporters in Malaysia
As we know, Malaysia is the world's largest producer and exporter of palm oil, accounting for 11% of global oils and fat output and 27% of exports. Here is a list of palm oil exporters in Malaysia!
Top Plantation Companies:
Rajawali Corp.
Sime Darby Plantation Berhad,
Felda Global Ventures Holdings Berhad
Kuala Lumpur Kepong Berhad.
Top Palm Oil Mills:
Ruchi Soya Industries Ltd
Liberty Oil Mills Ltd
G.G Foods
Amrut Organic Products
Shree Western G & C Industries
Top Palm oil Exporters in Malaysia :
Wilmar International Limited
Hong Leong Financial Group Berhad.
Societe Internationale Plantation et Finance (SIPEF)
Palm Oleo Sdn Bhd
Golden Agri-Resources Limited
IOI Corporation Berhad
AGRO Corporation Berhad
United Plantations Berhad
However, the Malaysian government has an important role in regulating and developing the palm oil business. The Malaysian Palm Oil Council (MPOC) is a significant institution responsible for promoting Malaysian palm oil and providing industry data. However, if you need the updated exporters of palm oil, palm oil exporters in Malaysia, connect with Eximpedia.app and discover the best market report anytime.
Who Is the Largest Importer of Palm Oil?
As per Indonesia import data, India is the world's largest importer of palm oil, importing over Rs. 50,000 crore each year. India acquired a remarkable $11.7 billion worth of palm oil, firmly placing it at the top. This is more than twice the import value of China, the world's second-largest importer, at $5.8 billion in 2022.
Here is the table for the biggest importer of palm oil!
Country | Estimated Import Share (%) | Import Value (billion USD) |
India | 23 | 11.7 |
China | 11.4 | 5.84 |
Pakistan | 7.47 | 3.8 |
USA | 4.75 | 2.42 |
Netherlands | 4.18 | 2.13 |
Now, explore the top palm oil import countries!
India
China
Pakistan
USA
Netherlands
Bangladesh
Iran
Egypt
European Union
Indonesia
The prior list includes importers of palm oil. Need to contact exporters of palm oil or palm oil exporters in Malaysia ? Contact Eximpedia.app for the most up-to-date palm oil export data and palm oil import data.
How to find Palm oil Importers data in Malaysia?
Visit the Eximpedia.app platform to receive access to palm oil importers in Malaysia or palm oil exporters in Malaysia. We offer the most accurate and genuine palm oil export data, a palm oil exporters list, palm oil HS codes, and so on.
In conclusion, Palm oil is a substantial contributor to the Malaysian economy. It adds significantly to the GDP and employs hundreds of thousands of people. While Malaysia faces problems such as reconciling environmental concerns with economic growth, its long history, favorable conditions, and emphasis on innovation secure its position as a global leader in palm oil exports. So, the next time you see palm oil, know that it could have come from the reigning champion, Malaysia.
If you're having difficulties obtaining palm oil exporters in Malaysia or, exporters of palm oil, connect with Eximpedia’s data-driven dashboard. Don't sit on it for too long. Request free live sample data today!
Frequently Ask Question (FAQ’s)
Who is the largest Palm oil producer in Malaysia?
Malaysia is a major supplier of palm oil, and the country's economy is strongly reliant on palm oil production, as it is the world's second-largest producer behind Indonesia.
Which countries export Palm oil from Malaysia?
As per palm oil export data, India was Malaysia's top palm oil export market, accounting for around 2.9 million metric tonnes in 2022,. The palm oil exporters in Malaysia were followed by China (1.69 million metric tonnes) and the European Union (1.22 million metric tonnes).
Who is the top exporter of Palm oil?
As per per palm oil export from India, the top exporter of palm oil are:
Malaysia
Indonesia
Thailand
Papua New Guinea
Guatemala
How much does Malaysia export Palm oil?
According to palm oil export data, Malaysia came in second place with over 16.2 million metric tonnes of palm oil exports.
Which country export most palm oil?
Exports In 2022, Indonesia ($5.4 billion), Malaysia ($3.5 billion), Thailand ($1.1 billion), Singapore ($421 million), and Papua New Guinea ($418 million) in 2022.
