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Palm oil collage (Pixabay)The world’s most consumed cooking oil, international purchases of imported palm oil cost a total US$42.3 billion in 2024.
Overall, spending on palm oil imports increased by 24.8% for all importing countries since 2020. Five years earlier, international purchases of palm oil cost $33.8 billion.
Year over year, globally imported palm oil fell by -10.6% compared to $47.3 billion starting from 2023.
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 43.4% of total palm oil purchased via international markets in 2024.
From a continental perspective, Asian countries imported the highest dollar worth of palm oil during 2024 with purchases valued at $24.3 billion or almost three-fifths (57.6%) of the global total. In second place were importers based in Europe at 18.6% while another 14.2% of palm oil imported worldwide was delivered to buyers in Africa.
Smaller percentages went to customers in North America (6.3%), Latin America (2.9%) excluding Mexico but including the Caribbean, and Oceania (0.4%) 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.
Below are the 15 countries that spent the most on imported palm oil during 2024.
- India: US$8.7 billion (20.5% of total imported palm oil)
- mainland China: $3.4 billion (8%)
- Pakistan: $2.9 billion (6.9%)
- United States: $1.9 billion (4.5%)
- Netherlands: $1.5 billion (3.6%)
- Bangladesh: $1.3 billion (3.1%)
- Italy: $1.16 billion (2.8%)
- Egypt: $1.14 billion (2.7%)
- Philippines: $1 billion (2.4%)
- Vietnam: $992.9 million (2.3%)
- Kenya: $905.1 million (2.1%)
- Germany: $858.8 million (2%)
- Russia: $832.2 million (2%)
- Saudi Arabia: $807.1 million (1.9%)
- Türkiye: $739.1 million (1.7%)
By value, the listed 15 countries purchased two-thirds (66.6%) of all palm oil imported in 2024.
Among the above countries, the growth markets for palm oil since 2023 were: Philippines (up 17.6%), Saudi Arabia (up 14.6%) and Kenya (up 7.9%).
Those countries that posted declines in their imported palm oil purchases were led by: mainland China (down -33.7% from 2023), Italy (down -22.5%), Egypt (down -12.7%) and Türkiye (down -7.7%).
The 100 biggest importers of palm oil bought 99% of the total value for the world’s purchases of palm oil imports during 2024. Those key importers are showcased in the following automated database.
| 1. | India | $8,653,987,000 | -1.5% |
| 2. | mainland China | $3,382,460,000 | -33.7% |
| 3. | Pakistan | $2,930,774,000 | -0.4% |
| 4. | United States | $1,881,360,000 | -6.8% |
| 5. | Netherlands | $1,512,120,000 | -1% |
| 6. | Bangladesh | $1,308,737,000 | -6.6% |
| 7. | Italy | $1,163,035,000 | -22.5% |
| 8. | Egypt | $1,138,231,000 | -12.7% |
| 9. | Philippines | $1,024,689,000 | +17.6% |
| 10. | Vietnam | $992,920,000 | -3.9% |
| 11. | Kenya | $905,117,000 | +7.9% |
| 12. | Germany | $858,841,000 | -6.5% |
| 13. | Russia | $832,189,000 | -2.6% |
| 14. | Saudi Arabia | $807,080,000 | +14.6% |
| 15. | Türkiye | $739,093,000 | -7.7% |
| 16. | Spain | $676,174,000 | -45.8% |
| 17. | Japan | $653,347,000 | -7.3% |
| 18. | Mexico | $611,649,000 | +61.6% |
| 19. | South Korea | $590,577,000 | -3.3% |
| 20. | Myanmar | $565,582,000 | -9.9% |
| 21. | United Arab Emirates | $541,549,000 | +36.2% |
| 22. | Djibouti | $507,236,000 | +12.3% |
| 23. | South Africa | $501,294,000 | +8.5% |
| 24. | United Kingdom | $452,265,000 | -1% |
| 25. | Tanzania | $430,907,000 | +147.2% |
| 26. | Belgium | $374,733,000 | -27.1% |
| 27. | Iran | $366,576,000 | -39.5% |
| 28. | Brazil | $343,323,000 | +34.3% |
| 29. | Poland | $343,155,000 | -3.3% |
| 30. | Nigeria | $321,961,000 | +88.2% |
| 31. | Senegal | $235,470,000 | +77.8% |
| 32. | Denmark | $230,512,000 | -0.2% |
| 33. | Taiwan | $225,074,000 | -7.9% |
| 34. | Afghanistan | $223,868,000 | -34.3% |
| 35. | Mozambique | $216,031,000 | -13.6% |
| 36. | Oman | $211,315,000 | -9.9% |
| 37. | France | $199,764,000 | -11.7% |
| 38. | Estonia | $199,228,000 | -35.6% |
| 39. | Malaysia | $192,893,000 | -77% |
| 40. | Angola | $171,341,000 | -2.2% |
| 41. | Sweden | $167,604,000 | -33.6% |
| 42. | Canada | $162,737,000 | -2.5% |
| 43. | Singapore | $158,066,000 | -22% |
| 44. | Mauritania | $155,889,000 | +0.3% |
| 45. | Ireland | $150,207,000 | -14.9% |
| 46. | Ukraine | $139,787,000 | +11.9% |
| 47. | Iraq | $138,364,000 | +57.2% |
| 48. | Ghana | $137,793,000 | +3.4% |
| 49. | Guinea | $133,415,000 | +21.9% |
| 50. | Colombia | $124,727,000 | +16.8% |
| 51. | Madagascar | $124,682,000 | +6.8% |
| 52. | Haiti | $123,729,000 | -8.2% |
| 53. | Yemen | $122,861,000 | -62% |
| 54. | El Salvador | $122,487,000 | +5.7% |
| 55. | Greece | $107,613,000 | -21.6% |
| 56. | Congo | $107,265,000 | +5.4% |
| 57. | Somalia | $98,419,000 | -51.2% |
| 58. | Togo | $94,256,000 | -14.2% |
| 59. | Algeria | $90,547,000 | -6.3% |
| 60. | Mali | $83,856,000 | +26.7% |
| 61. | Azerbaijan | $82,241,000 | +56.2% |
| 62. | Honduras | $81,439,000 | +104.2% |
| 63. | Australia | $80,326,000 | -8.7% |
| 64. | Guatemala | $79,668,000 | +41.2% |
| 65. | Nicaragua | $76,559,000 | +27% |
| 66. | Dominican Republic | $73,165,000 | +14.1% |
| 67. | Romania | $66,091,000 | -8.2% |
| 68. | Tunisia | $59,998,000 | -22.6% |
| 69. | Uganda | $58,536,000 | -81.2% |
| 70. | Austria | $57,501,000 | +5.2% |
| 71. | Portugal | $57,105,000 | -16.9% |
| 72. | Jordan | $51,004,000 | -1.1% |
| 73. | Zambia | $47,744,000 | -41% |
| 74. | Hungary | $46,469,000 | -9.3% |
| 75. | Niger | $45,119,000 | -35.3% |
| 76. | Uzbekistan | $43,096,000 | -9.8% |
| 77. | Peru | $42,774,000 | +219.3% |
| 78. | Burkina Faso | $42,617,000 | +11.5% |
| 79. | Cameroon | $42,258,000 | -76.6% |
| 80. | Morocco | $41,637,000 | -28.2% |
| 81. | Liberia | $40,838,000 | +14.5% |
| 82. | Chile | $37,206,000 | +5% |
| 83. | New Zealand | $37,093,000 | +35.8% |
| 84. | Kuwait | $36,830,000 | -18.5% |
| 85. | Kazakhstan | $36,076,000 | -40% |
| 86. | Serbia | $34,917,000 | -10.5% |
| 87. | Uruguay | $34,426,000 | +5.5% |
| 88. | Bahrain | $33,053,000 | -5.3% |
| 89. | Sri Lanka | $30,259,000 | +26.3% |
| 90. | Democratic Republic Congo | $29,750,000 | +13.2% |
| 91. | Israel | $27,791,000 | -5.2% |
| 92. | Lithuania | $26,928,000 | -7.9% |
| 93. | Croatia | $26,433,000 | -14.4% |
| 94. | Sudan | $26,266,000 | -45.8% |
| 95. | Slovakia | $25,642,000 | +16% |
| 96. | Qatar | $25,389,000 | -16.4% |
| 97. | Bulgaria | $25,018,000 | -37.3% |
| 98. | Syria | $24,527,000 | -31.2% |
| 99. | Venezuela | $23,832,000 | +66.1% |
| 100. | Papua New Guinea | $23,078,000 | +190.8% |
The fastest-growing buyers among the top 100 palm oil importers were in Peru (up 219.3% from 2023), Papua New Guinea (up 190.8%), Tanzania (up 147.2%), Honduras (up 104.2%) and Nigeria (up 88.2%).
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 2023 data was available.
Palm Oil Imported into India
India’s global purchases of imported palm oil totaled US$8.65 billion in 2024. Below are the top 15 suppliers from which India imported the highest dollar value worth of palm oil during 2024. Within parenthesis is the percentage change in value for each supplying country from 2023 to 2024.
- Indonesia: US$4.3 billion (down -5.7% from 2023)
- Malaysia: $2.7 billion (up 10.8%)
- Thailand: $712.9 million (down -8.9%)
- Singapore: $597.3 million (up 5.5%)
- Papua New Guinea: $183.4 million (down -30.8%)
- Philippines: $41.9 million (up 46.7%)
- Nepal: $34.8 million (down -50.5%)
- Vietnam: $31.8 million (2023 data unavailable)
- Gabon: $17.5 million (2023 data unavailable)
- United Arab Emirates: $5.8 million (down -84.8%)
- Sierra Leone: $2.7 million (2023 data unavailable)
- Cambodia: $1.5 million (down -15.8%)
- Ghana: $985,000 (2023 data unavailable)
- Bangladesh: $979,000 (down -83.2%)
- Cameroon: $582,000 (2023 data unavailable)
By value, the listed 15 countries shipped 99.995% of palm oil imported by India in 2024.
Among the above countries, three major suppliers of palm oil to India grew since 2023 namely the Philippines (up 46.7%), Malaysia (up 10.8%) and Singapore (up 5.5%).
Countries that experienced declines in the value of their palm oil supplied to Indian importers included: United Arab Emirates (down -84.8% from 2023), Bangladesh (down -83.2%), Nepal (down -50.5%) and Papua New Guinea (down -30.8%).
Overall, the value of India’s imported palm oil slowed by an average -1.5% from all supplying countries since 2023 when palm oil purchased cost $8.8 billion.
Palm Oil Imported into China
Mainland China’s global purchases of imported palm oil totaled US$3.4 billion in 2024. Below are the top suppliers from which China imported the highest dollar value worth of palm oil during 2024. Within parenthesis is the percentage change in value for each supplying country from 2023 to 2024.
- Indonesia: US$2.2 billion (down -42.3% from 2023)
- Malaysia: $1.1 billion (down -6.6%)
- Myanmar: $3.7 million (up 44.2%)
- Philippines: $3.4 million (up 365.2%)
- Thailand: $1.4 million (up 6.2%)
- Taiwan: $879,000 (down -12%)
- Japan: $12,000 (down -40%)
- Sweden: $6,000 (2023 data unavailable)
- Colombia: $1,000 (2023 data unavailable)
- Hong Kong: $1,000 (2023 data unavailable)
By value, the listed countries shipped 100% of palm oil imported by mainland China in 2024.
Among the above countries, the growth suppliers of palm oil to China since 2023 were: Philippines (up 365.2%), Myanmar (up 44.2%), Thailand (up 6.2%).
Overall, the value of China’s imported palm oil fell by an average -33.7% from all supplying countries since 2023 when palm oil purchased cost $5.1 billion.
Palm Oil Imported into Pakistan
Pakistan’s global purchases of imported palm oil totaled US$2.93 billion in 2024. Below are the top suppliers from which Pakistan imported the highest dollar value worth of palm oil during 2024. Within parenthesis is the percentage change in value for each supplying country from 2023 to 2024.
- Indonesia: US$2.6 billion (down -2% from 2023)
- Malaysia: $344.8 million (up 14.2%)
- Singapore: $2 million (down -4.3%)
- Thailand: $94,000 (down -80.6%)
- Saudi Arabia: $61,000 (2023 data unavailable)
- Sweden: $2,000 (2023 data unavailable)
By value, the listed countries shipped 100% of palm oil imported by Pakistan in 2024.
Among the above countries, the sole growth supplier of palm oil to Pakistan since 2023 was Malaysia which recorded a 14.2% advance.
Overall, the value of Pakistan’s imported palm oil went down by an average -0.4% from all supplying countries since 2023 when palm oil purchased cost $2.94 billion.
Palm Oil Imported into the United States
Dutch global purchases of imported palm oil totaled US$1.88 billion in 2024. Below are the top 15 suppliers from which the Netherlands imported the highest dollar value worth of palm oil during 2024. Within parenthesis is the percentage change in value for each supplying country from 2023 to 2024.
- Indonesia: US$1.6 billion (down -6.9% from 2023)
- Malaysia: $204.1 million (up 8.1%)
- Mexico: $18.1 million (down -0.7%)
- Colombia: $16.4 million (down -63.4%)
- Philippines: $15.6 million (2023 data unavailable)
- Ecuador: $10 million (down -28.1%)
- Singapore: $7.4 million (down -44.1%)
- Ghana: $3.7 million (down -4%)
- Netherlands: $1.34 million (up 146.4%)
- Sierra Leone: $1.31 million (up 11.6%)
- Jordan: $1.2 million (up 89.7%)
- Liberia: $851,000 (down -1.7%)
- Nigeria: $811,000 (up 31.2%)
- Brazil: $449,000 (down -78.2%)
- Sweden: $367,000 (up 54.2%)
By value, the listed 15 countries shipped 99.9% of palm oil imported by the United States of America in 2024.
Among the above countries, the fastest-growing suppliers of palm oil to United States since 2023 were: Netherlands (up 146.4%), Jordan (up 89.7%), Sweden (up 54.2%) and Nigeria (up 31.2%).
Countries that experienced double-digit percentage declines in the value of their palm oil supplied to American importers were: Brazil (down -78.2% from 2023), Colombia (down -63.4%), Singapore (down -44.1%) and Ecuador (down -28.1%).
Overall, the value of US imported palm oil slowed by an average -6.8% from all supplying countries since 2023 when palm oil purchased cost $2 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 June 28, 2025
International Trade Centre, Trade Map. Accessed on June 28, 2025
Investopedia, Net Exports Definition. Accessed on June 28, 2025
Wikipedia, Palm oil. Accessed on June 28, 2025
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