Overall, spending on palm oil imports increased by 54.8% for all importing countries since 2019. Five years earlier, international purchases of palm oil cost $30.1 billion.
Year over year, globally imported palm oil fell by -22.2% compared to $59.9 billion starting from 2022.
An edible vegetable oil, palm oil is derived from the reddish pulp of oil palm plant fruit. Palm oil is a highly saturated vegetable fat used for lower-cost cooking, blending into mayonnaise and as a butter substitute. Palm oil is also an ingredient for biodiesel fuels.
The 5 biggest importers of palm oil are India, mainland China, Pakistan, United States of America, and the Netherlands. Collectively, that quintet of major palm oil buyers imported 43.7% of total palm oil purchased via international markets in 2023.
From a continental perspective, Asian countries imported the highest dollar worth of palm oil during 2023 with purchases valued at $26.8 billion or almost three-fifths (57.6%) of the global total. In second place were European importers at 20% while another 14.5% of palm oil imported worldwide was delivered to buyers in Africa.
Smaller percentages went to customers in North America (5.5%), Latin America (2.2%) excluding Mexico but including the Caribbean, and Oceania (0.3%) led by Australia, New Zealand and Papua New Guinea.
For research purposes, the 4-digit Harmonized Tariff System code prefix is 1511 for palm oil and its refractions, whether or not refined.
Palm Oil Imports by Country
Below are the 15 countries that spent the most on imported palm oil during 2023.
- India: US$8.8 billion (18.8% of total imported palm oil)
- mainland China: $5.1 billion (10.9%)
- Pakistan: $2.9 billion (6.3%)
- United States: $2 billion (4.3%)
- Netherlands: $1.53 billion (3.3%)
- Italy: $1.5 billion (3.2%)
- Bangladesh: $1.4 billion (3%)
- Egypt: $1.3 billion (2.8%)
- Spain: $1.25 billion (2.7%)
- Vietnam: $971 million (2.1%)
- Germany: $917.9 million (2%)
- Philippines: $871.5 million (1.9%)
- Russia: $854.8 million (1.8%)
- Kenya: $838.9 million (1.8%)
- Malaysia: $838.7 million (1.8%)
By value, the listed 15 countries purchased 66.7% of all palm oil imported in 2023.
Among the above countries, the most modest decreasing markets for palm oil since 2022 were: Spain (down -9.9%), Egypt (down -11.5%), mainland China (down -12.7%) and the United States of America (down -16.6%).
Searchable List of Palm Oil Importers in 2023
The 100 biggest importers of palm oil bought 99% of the total value for the world’s purchases of palm oil imports during 2023. Those key importers are showcased in the following automated database.
| Rank | Importer | Palm Oil Imports | 2022-3 |
|---|---|---|---|
| 1. | India | $8,786,359,000 | -25.1% |
| 2. | mainland China | $5,099,637,000 | -12.7% |
| 3. | Pakistan | $2,942,213,000 | -23.7% |
| 4. | United States | $2,019,139,000 | -16.6% |
| 5. | Netherlands | $1,527,008,000 | -28.4% |
| 6. | Italy | $1,500,957,000 | -16.6% |
| 7. | Bangladesh | $1,400,711,000 | -20.9% |
| 8. | Egypt | $1,304,274,000 | -11.5% |
| 9. | Spain | $1,248,617,000 | -9.9% |
| 10. | Vietnam | $971,016,000 | -23.0% |
| 11. | Germany | $917,853,000 | -21.6% |
| 12. | Philippines | $871,516,000 | -34.2% |
| 13. | Russia | $854,770,000 | -32.9% |
| 14. | Kenya | $838,932,000 | -22.6% |
| 15. | Malaysia | $838,671,000 | -42.5% |
| 16. | Türkiye | $801,092,000 | -33.6% |
| 17. | Japan | $704,630,000 | -19.7% |
| 18. | Saudi Arabia | $641,447,000 | -35.3% |
| 19. | Myanmar | $627,383,000 | -8.2% |
| 20. | South Korea | $611,034,000 | -23.1% |
| 21. | United Arab Emirates | $514,364,000 | +16.9% |
| 22. | Belgium | $513,945,000 | -15.6% |
| 23. | Ethiopia | $491,392,000 | -45.0% |
| 24. | South Africa | $461,984,000 | -29.9% |
| 25. | United Kingdom | $456,635,000 | -18.5% |
| 26. | Djibouti | $451,585,000 | +10.3% |
| 27. | Mexico | $378,437,000 | -0.8% |
| 28. | Poland | $354,758,000 | -10.5% |
| 29. | Afghanistan | $330,173,000 | -11.8% |
| 30. | Uganda | $311,386,000 | -17.2% |
| 31. | Estonia | $309,254,000 | +1.5% |
| 32. | Yemen | $267,681,000 | +34.4% |
| 33. | Brazil | $255,715,000 | -33.4% |
| 34. | Sweden | $252,276,000 | +1.3% |
| 35. | Mozambique | $250,064,000 | -8.4% |
| 36. | Taiwan | $244,305,000 | -23.1% |
| 37. | Denmark | $230,916,000 | -17.7% |
| 38. | France | $225,812,000 | -41.7% |
| 39. | Iran | $211,001,000 | -69.4% |
| 40. | Oman | $204,735,000 | -32.1% |
| 41. | Singapore | $202,577,000 | -17.8% |
| 42. | Cameroon | $180,902,000 | +20.6% |
| 43. | Ireland | $176,423,000 | -16.9% |
| 44. | Tanzania | $174,285,000 | +25.3% |
| 45. | Nigeria | $171,085,000 | -43.0% |
| 46. | Canada | $166,945,000 | -13.9% |
| 47. | Mauritania | $155,374,000 | +217.5% |
| 48. | Benin | $149,032,000 | +234.5% |
| 49. | Angola | $141,527,000 | -56.9% |
| 50. | Somalia | $140,497,000 | -48.3% |
| 51. | Greece | $137,338,000 | -23.5% |
| 52. | Haiti | $134,780,000 | +6.6% |
| 53. | Ghana | $133,224,000 | -33.1% |
| 54. | Senegal | $132,435,000 | +13.2% |
| 55. | Ukraine | $124,921,000 | -23.9% |
| 56. | Madagascar | $116,736,000 | -26.2% |
| 57. | El Salvador | $115,857,000 | -16.6% |
| 58. | Togo | $109,828,000 | +61.4% |
| 59. | Guinea | $109,444,000 | +209.5% |
| 60. | Colombia | $106,768,000 | -36.7% |
| 61. | Congo | $101,661,000 | +35.6% |
| 62. | Algeria | $96,613,000 | -35.6% |
| 63. | Mali | $91,785,000 | +71.9% |
| 64. | Australia | $87,970,000 | -19.5% |
| 65. | Iraq | $86,229,000 | -48.2% |
| 66. | Zambia | $80,897,000 | +4.2% |
| 67. | Tunisia | $77,523,000 | -36.6% |
| 68. | Romania | $72,079,000 | -24.5% |
| 69. | Niger | $69,777,000 | -1.3% |
| 70. | Portugal | $68,752,000 | +85.9% |
| 71. | Dominican Republic | $64,135,000 | -37.1% |
| 72. | Nicaragua | $60,295,000 | -32.1% |
| 73. | Kazakhstan | $60,142,000 | +13.2% |
| 74. | Morocco | $58,001,000 | -28.0% |
| 75. | Guatemala | $56,415,000 | +5.1% |
| 76. | Azerbaijan | $52,658,000 | -54.6% |
| 77. | Jordan | $51,584,000 | -14.5% |
| 78. | Hungary | $51,225,000 | -6.5% |
| 79. | Austria | $51,181,000 | +2.2% |
| 80. | Malawi | $44,302,000 | +8.8% |
| 81. | Bulgaria | $42,057,000 | -19.7% |
| 82. | Honduras | $39,879,000 | 0.0% |
| 83. | Sudan | $39,594,000 | -44.2% |
| 84. | Serbia | $39,029,000 | -26.9% |
| 85. | Burkina Faso | $38,236,000 | +88.6% |
| 86. | Liberia | $35,674,000 | -2.0% |
| 87. | Syria | $35,655,000 | -45.8% |
| 88. | Chile | $35,442,000 | -29.5% |
| 89. | Bahrain | $34,894,000 | -16.2% |
| 90. | Zimbabwe | $34,218,000 | -32.6% |
| 91. | South Sudan | $34,024,000 | -35.9% |
| 92. | Uzbekistan | $33,918,000 | -20.6% |
| 93. | Uruguay | $32,625,000 | -30.1% |
| 94. | Croatia | $30,835,000 | -0.4% |
| 95. | Kuwait | $29,756,000 | -49.8% |
| 96. | North Korea | $29,531,000 | +142.1% |
| 97. | Israel | $29,321,000 | -39.4% |
| 98. | Lithuania | $29,247,000 | -4.2% |
| 99. | Ivory Coast | $28,527,000 | -67.6% |
| 100. | New Zealand | $27,308,000 | -35.1% |
The fastest-growing buyers among the top 100 palm oil importers were Benin (up 234.5% from 2022), Mauritania (up 217.5%), Guinea (up 209.5%), North Korea (up 142.1%) and Burkina Faso (up 88.6%).
You can change the presentation order by clicking the triangle icon at the top of any of the columns in the above table. An entry of 0% in the right-most column means that no 2022 data was available.
Palm Oil Imported into India
India’s global purchases of imported palm oil totaled US$8.8 billion in 2023. Below are the top 15 suppliers from which India imported the highest dollar value worth of palm oil during 2023. Within parenthesis is the percentage change in value for each supplying country from 2022 to 2023.
- Indonesia: US$4.9 billion (down -11.9% from 2022)
- Malaysia: $2.7 billion (down -30.7%)
- Thailand: $795.5 million (down -35%)
- Papua New Guinea: $265 million (down -36.5%)
- Nepal: $70.4 million (down -59.6%)
- Cambodia: $44.1 million (up 155.9%)
- Philippines: $32.4 million (up 148.6%)
- Bangladesh: $5.8 million (up 133.3%)
- Liberia: $881,000 (down -88.5%)
- Singapore: $423,000 (down -99.9%)
- Sri Lanka: $90,000 (2022 data unavailable)
- Nigeria: $6,000 (down -50%)
By value, the listed 15 countries shipped 99.99998% of palm oil imported by India in 2023.
Among the above countries, three major suppliers of palm oil grew their sales to India since 2022 namely Cambodia (up 155.9%), Philippines (up 148.6%) and Bangladesh (up 133.3%).
Overall, the value of India’s imported palm oil slipped by an average -25.1% from all supplying countries since 2022 when palm oil purchased cost $11.7 billion.
Palm Oil Imported into China
Mainland China’s global purchases of imported palm oil totaled US$5.1 billion in 2023. Below are the top suppliers from which China imported the highest dollar value worth of palm oil during 2023. Within parenthesis is the percentage change in value for each supplying country from 2022 to 2023.
- Indonesia: US$3.9 billion (down -2.1% from 2022)
- Malaysia: $1.22 billion (down -35.1%)
- Myanmar: $2.6 million (up 197%)
- Thailand: $1.3 million (down -3.6%)
- Taiwan: $999,000 (down -2.8%)
- Philippines: $726,000 (down -62.2%)
- Japan: $20,000 (up 81.8%)
- Ghana: $19,000 (2022 data unavailable)
- Ecuador: $8,000 (down -90.9%)
- Sweden: $6,000 (2022 data unavailable)
- Brazil: $2,000 (down -66.7%)
By value, the listed countries shipped 100% of palm oil imported by mainland China in 2023.
Among the above countries, there were two growth suppliers of palm oil to China since 2022 namely Myanmar (up 197%) and Japan (up 81.8%).
Overall, the value of China’s imported palm oil decreased by an average -12.7% from all supplying countries since 2022 when palm oil purchased cost $5.8 billion.
Palm Oil Imported into Pakistan
Pakistan’s global purchases of imported palm oil totaled US$2.94 billion in 2023. Below are the top suppliers from which Pakistan imported the highest dollar value worth of palm oil during 2023. Within parenthesis is the percentage change in value for each supplying country from 2022 to 2023.
- Indonesia: US$2.6 billion (down -24.6% from 2022)
- Malaysia: $302 million (down -14.9%)
- Singapore: $2.1 million (up 19.8%)
- Thailand: $485,000 (down -44.4%)
- Myanmar: $168,000 (2022 data unavailable)
- United Arab Emirates: $48,000 (2022 data unavailable)
By value, the listed countries shipped 100% of palm oil imported by Pakistan in 2023.
Among the above countries, the sole growth supplier of palm oil to Pakistan since 2022 were was Singapore recording a 19.8% gain.
Overall, the value of Pakistan’s imported palm oil dropped by an average -23.7% from all supplying countries since 2022 when palm oil purchased cost $3.9 billion.
Palm Oil Imported into the United States
Dutch global purchases of imported palm oil totaled US$2 billion in 2023. Below are the top 15 suppliers from which the Netherlands imported the highest dollar value worth of palm oil during 2023. Within parenthesis is the percentage change in value for each supplying country from 2022 to 2023.
- Indonesia: US$1.7 billion (down -15% from 2022)
- Malaysia: $188.8 million (down -33.3%)
- Colombia: $44.9 million (up 34.7%)
- Mexico: $18.2 million (down -8.9%)
- Ecuador: $13.9 million (down -41.8%)
- Singapore: $13.2 million (down -11.9%)
- Japan: $8.2 million (2022 data unavailable)
- Ghana: $3.9 million (up 103.3%)
- Brazil: $2.1 million (down -49.7%)
- Costa Rica: $1.31 million (down -77.3%)
- Panama: $1.3 million (down -20.2%)
- Sierra Leone: $1.2 million (up 97.5%)
- Spain: $950,000 (down -5.9%)
- Liberia: $866,000 (up 109.2%)
- Jordan: $630,000 (down -14.2%)
By value, the listed 15 countries shipped 99.9% of palm oil imported by the United States of America in 2023.
Among the above countries, growth suppliers of palm oil to the United States since 2022 were: Liberia (up 109.2%), Ghana (up 103.3%), Sierra Leone (up 97.5%) and Colombia (up 34.7%).
Countries that experienced declines in the value of their palm oil supplied to American importers included: Costa Rica (down -77.3% from 2022), Brazil (down -49.7%), Ecuador (down -41.8%) and Malaysia (down -33.3%).
Overall, the value of United States’s imported palm oil retreated by an average -16.6% from all supplying countries since 2022 when palm oil purchased cost $2.4 billion.
See also Palm Oil Exports by Country, Sugar Imports by Country, Imported Pickles by Country, Butter Exports by Country and Top Cashews Exports & Imports by Country Plus Average Prices
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Imports – Commodities. Accessed on August 18, 2024
International Trade Centre, Trade Map. Accessed on August 18, 2024
Investopedia, Net Exports Definition. Accessed on August 18, 2024
Wikipedia, Palm oil. Accessed on August 18, 2024