Three Asian countries produced 87% of the world’s palm oil in the 2022/2023 market year

Nigeria produced 1.4 million tons of palm oil in 2022, 2% of the global production in the 2022/2023 market year, making the country the fifth largest producer of the commodity. Indonesia dominated global production with 59%, followed by Malaysia and Thailand.

Source:

USDA Foreign Agricultural Service

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Period:

2022/2023

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