![]() Meanwhile, consumption in the EU-27 (-8%), China (-5%) and Malaysia (-2%) has decreased. Globally, the leading palm oil consuming regions (in decreasing order) are Indonesia, India, EU-27, China, and Malaysia. Global production of palm oil has been climbing rapidly for five decades and is expected to grow at a compound annual rate of 5.1% in terms of revenue from 2022 to 2030, according to the new report.įrom 2020 to 2021, global palm oil production rose by 2%, led by five countries: Indonesia and Malaysia (together responsible for 83% of global production), Thailand, Colombia and Nigeria. The new report, “Sustainable Palm Oil: Europe's business - fact, analysis and actions to leverage impact,” was jointly commissioned by the European Palm Oil Alliance (EPOA) and IDH - the Sustainable Trade Initiative.įrom 2020 to 2021, global palm oil production rose by 2%.Global outlook of palm oil In Europe, licenses for the use of the RSPO Trademark on products have doubled between 20, with those for corporate communication tripling in the same period,” comments Francesca Morgante, RSPO’s senior manager for Europe. “As the data shows, we have seen a spike in sustainability communications. ![]() In this context, the report underscores the importance of maintaining Europe’s role in helping to shift the global market to sustainable palm oil.Īdditionally, it outlines why completely switching out palm oil from recipes may not be suitable in the long term. New data collected by NewForesight and commissioned by the Roundtable on Sustainable Palm Oil (RSPO) also reveals that the consumption of palm oil is increasing in other parts of the world where the market for sustainable palm oil products is still in its infancy. ![]() The bloc notably accounts for 45% of total global use of certified sustainable palm oil, indicating this drop could leave a substantial mark on industry’s overall transition to transparency. However, total palm oil imports are decreasing. In May 2019 the country became a net oil and gas exporter for the first time since 1953.- For the past two decades, Europe has been a frontrunner in sustainable palm oil with the EU market reaching high levels. oil production reached 12.86 million b/d in November 2019, the highest monthly level of crude oil production in U.S. Saudi Arabia and Russia also top the list of oil exporting countries. Each of these countries experienced major production declines at different times in the past, but since 2014 all three have been producing near their peak rates of 9 to 11 million barrels per day. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. Members of OPEC+, which includes current OPEC members produce 58% of the world's petroleum. Approximately 69% came from the top ten countries, and an overlapping 38% came from the thirteen current OPEC members, in the table below. Under this definition, total world oil production in 2022 averaged 80,618,895 barrels per day. They also do not include the increase in liquid volumes during oil refining ("refinery gain"), or liquids separated from natural gas in gas processing plants ( natural gas liquids). The volumes in the table do not include biofuel. The volumes in the table represent crude oil and lease condensate, the hydrocarbon liquids collected at or near the wellhead. Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal cycles. ![]() Energy Information Administration database for calendar year 2022, tabulating all countries on a comparable best-estimate basis. This is a list of countries by oil production (i.e., petroleum production), as compiled from the U.S.
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