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Palm Oil Suppliers: Indonesia, Malaysia and the Other Exporters
Palm oil trade is concentrated in two countries. Indonesia and Malaysia together supply more than four fifths of the oil that crosses borders.
The exporters
In 2024, according to OEC data, world exports of palm oil were worth about USD 43.5 billion. Indonesia had 48.8 percent of the trade and Malaysia 33.7 percent. The next exporters were the Netherlands (2.1 percent, mostly re-exports), Thailand (2.0), Papua New Guinea (1.6) and Guatemala (1.3).
The buyers
India (19.0 percent of world imports), China (7.3), Pakistan (6.9), the United States (4.1), the Netherlands (3.9) and Bangladesh (3.0) were the largest importers. India buys in large volumes for cooking oil, and the European ports are the gateway for a part of the trade.
Crude and refined
Crude palm oil is the raw oil from the fruit. It is refined into RBD palm oil and then split into olein and stearin for different uses, in food, cosmetics and biofuels. A contract names the product, the free fatty acid level, the moisture and impurities, and the standard used for inspection.
Sustainability and rules
Many buyers ask for sustainability certification, for example RSPO, and some markets have rules on the origin of palm oil. Export levies and taxes in the producing countries can change the price on the buyer's side, so check the current rules before you agree the price.
How it is shipped
Palm oil is carried in tankers with clean, often heated tanks, because it solidifies at lower temperatures, and in smaller lots in flexitanks. See vegetable oils and the general guide to FOB vs CFR vs CIF.
Sourcing on Comdity
Look at the offers on the palm oil page and post your own listing, with the product, the quantity, the origin and the port. Read offer and counteroffer.
Seasonality and storage
Palm trees produce all year, but the output has a peak, usually in the second half of the year, and falls after heavy rain or drought. Buyers watch the production figures of Malaysia and Indonesia and the stocks in the producing countries, because they show where supply is going. Palm oil can be stored in tanks, so many deals are for forward shipment in the next one to three months.
What to check before you buy
Ask for the specification: free fatty acid, moisture and impurities, and the iodine value for olein. Ask for the sustainability certificate if your market needs it, and for the traceability documents. Check the tank cleanliness and the heating requirements for the ship, and agree who bears the cost of the heating. Compare the offers with the export levy of the producing country in mind.
The largest exporting and importing countries (2024)
| Top exporting countries | Share of world trade |
|---|---|
| Indonesia | 48.8% |
| Malaysia | 33.7% |
| Netherlands | 2.1% |
| Thailand | 2% |
| Papua New Guinea | 1.6% |
| Guatemala | 1.3% |
| Honduras | 1% |
| Colombia | 0.9% |
| Top importing countries | Share of world trade |
|---|---|
| India | 19% |
| China | 7.3% |
| Pakistan | 6.9% |
| United States | 4.1% |
| Netherlands | 3.9% |
| Bangladesh | 3% |
| Italy | 2.9% |
| Saudi Arabia | 2.8% |
Source: OEC (BACI/CEPII), 2024, customs codes 1511. The figures count trade by every mode of transport, not only by sea.
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