Reports | Commodities

Oil Palm Sector Update Report

Jul 27, 2022   •   by Afrinvest Research   •   Source: Afrinvest   •   eye-icon 58 views

Globally, oil palm is the most consumed edible oil – accounting for 41.2% of the global edible oil consumption in 2021 according to estimates by United States Department of Agriculture (USDA). Interestingly, the crop has an economic lifespan of about 25 to 30 years, bearing its fruit round the year given favourable climate. A palm tree produces roughly 3.8MT/ha (Metric Tonne per Hectare) annually on a global average, 6.0MT/ha in the best plantations in Southeast Asia and 10.0MT/ha in genetic field trials. Due to its climatic requirement for cultivation, a whopping 91.8% of global production comes from Malaysia, Indonesia, Nigeria, Columbia, and Thailand (MINCT) – three of which are Southeast Asian countries.

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