Top 10 Most Consumed Vegetable Oils in the World: Palm Oil Tops the List
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Global vegetable oil consumption in 2020/2021 reached 207.93 million metric tons (MT). This figure comprises nine vegetable oil sources.
Data from statista.com shows that palm oil is the most consumed type of vegetable oil globally. Consumption reached 75.45 million metric tons, or 36.3% of global vegetable oil consumption.
Other widely consumed vegetable oils include soybean oil, with consumption of 59.48 million metric tons (28.6%), and rapeseed oil at 27.64 million metric tons (13.3%).
The least consumed vegetable oils include olive oil at 3.1 million metric tons (1.5%), coconut oil at 3.67 million metric tons (1.76%), and cottonseed oil at 4.89 million metric tons (2.35%).
Palm oil's high productivity coupled with low production costs results in a lower price compared to other vegetable oils. This is a key driver of high global palm oil consumption.
(Read More: India, Largest CPO Export Destination until April 2021)
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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