Indonesia to Become the World's Largest Palm Oil Consumer in 2024/2025

According to the United States Department of Agriculture (USDA), global palm oil production is projected to reach 78.94 million metric tons in 2024/2025.

Meanwhile, global palm oil consumption is recorded at 77.53 million metric tons.

Global consumption increased by approximately 4% year-on-year (YoY) compared to the previous period (74.56 million metric tons in 2023/2024).

During this period, Indonesia was the world's largest consumer of palm oil, at 23.275 million metric tons, or 30% of total global palm oil consumption.

Indonesia's domestic palm oil consumption volume has consistently been the highest for the three previous periods.

The following is a list of the top 10 palm oil consuming countries in the world for the 2024/2025 period:

1. Indonesia: 23.27 million metric tons
2. India: 8.8 million metric tons
3. China: 4.7 million metric tons
4. European Union: 3.85 million metric tons
5. Malaysia: 3.78 million metric tons
6. Pakistan: 3.55 million metric tons
7. Thailand: 2.72 million metric tons
8. Nigeria: 1.89 million metric tons
9. Bangladesh: 1.72 million metric tons
10. Colombia: 1.56 million metric tons
11. USA: 1.54 million metric tons
12. Egypt: 1.17 million metric tons
13. Philippines: 1.09 million metric tons
14. Vietnam: 1.05 million metric tons
15. Brazil: 965 thousand metric tons.

The USDA's 2024/2025 trading season data globally refers to a 12-month period at the beginning of the harvest. For Indonesia, India, China, Malaysia, Pakistan, Nigeria, and Colombia, this period refers to October 2024-September 2025.

However, some countries have different trading patterns. For Bangladesh, the 2024/2025 season refers to the 12-month period from July 2023 to June 2024. The European Union and Thailand's period is January-December 2025.