The global demand and supply for edible oils is growing, with production and consumption increasing:
- ProductionGlobal edible oil production is expected to increase from 226 million metric tons in 2023 to 239 million metric tons by 2028. This is a 0.9% annual growth rate.
- ConsumptionGlobal vegetable oil consumption is also increasing, with an estimated 221.7 million metric tons consumed in 2024, up 5.3 million tons from the previous year.
- Leading producersIndonesia is the world’s leading producer of edible oils, followed by China, Malaysia, and the United States.
- Leading consumersIndia is the world’s second largest consumer of vegetable oil, and is projected to maintain high per capita consumption growth.
- Demand for used cooking oilDemand for used cooking oil is expected to increase as countries set targets for aviation fuels.
Edible oils are used in many products, including pizza, ice cream, shampoo, lipstick, and animal feed. Some countries also process palm oil into biofuels.
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