Find Verified Palm Oil Buyers, Importers and Buy Leads

Palm Oil in Global Markets: Versatile, Valuable, and Widely Traded

Palm oil is one of the most widely consumed vegetable oils. Sourced from the fruit of the palm tree, this oil is used in a number of edible and personal care products. In fact, its unique composition is responsible for its versatile applications (food, cosmetics, pharmaceuticals, and biofuels). Today we all are aware of its significance in the global trade market. But do you know that it was one of the most sought-after commodities during Britain's Industrial Revolution? It is because of their extensive use as an industrial lubricant for machinery. As global consumption keeps growing, palm oil buyers actively seek reliable suppliers who can provide bulk quantities at the best rate. 

The Ever-Growing Global Demand for Palm Oil in International Trade

There are very few commodities that hold as much influence over the global economy as palm oil. This versatile oil has a critical role across multiple industries. Manufacturers prefer this edible oil because it produces a higher oil yield per hectare than other oil-producing crops, such as soybeans or sunflowers. In the year 2022-23, the palm oil market alone accounted for around 35.7% of the world's vegetable oil production. And it grew further as the demand for this commodity increased in nations like China and India. 

The increasing demand for palm oil is driven by various factors. More than half of the packaged products that we see in supermarkets are made from palm oils. It is an essential ingredient in a range of products, from packaged foods and snacks to cosmetics. Furthermore, it is also a sustainable & renewable alternative to fossil fuels for biofuel production. 

Palm oil is more affordable and economically viable as it offers a higher yield per hectare when compared to other vegetable oils like soybean oil. This commodity also has a major global economic impact as it supports the livelihoods of millions of people worldwide. Did you know palm oil is the top agricultural export of Indonesia and Malaysia? It makes up about 10% of Indonesia’s exports and 5% of Malaysia’s, generating lakhs of job opportunities in these regions (Source:  European Parliamentary Research Service (EPRS).

Explore Products Variants & Other Trade Segments for Export Opportunities

Buyers source palm oil bulk in different forms based on their requirements and end-use. Here are the following types of palm oils popular in the international trade business:

In addition, exporters also trade associated by-products, such as palm kernel, palm kernel cake, palm nuts, etc. Moreover, you can also expand into related edible oils segments like Corn oil, Soybean oil, Sunflower oil, & Rapeseed oil, especially in price-sensitive markets. You can also explore other highly-demanded commodities such as Mustard oil, Coconut oil, and Olive oil in regional specialty categories. 

Global Market Insights for Palm Oil

In order to successfully carry out your export operations, it is important to make well-informed, strategic decisions. And staying updated with the latest market insights can be your way to go! 

Global Market Size:

Source: IMARC

Top Importing Countries (2024) and their Average Price Range

Source: Seair Exim

To get the latest price updates on edible oils like palm oil or connect with fellow agri-traders, visit our Communities section.

How to Find Palm Oil Importers and Buyers?

Reaching out to the right buyers looking for palm oil can be really hectic, especially if you don't know where to start. Whether you want to connect with palm kernel oil buyers or you are searching for a buyer crude palm oil, here are the most effective methods that can be useful in your quest. 

• List your products on trusted B2B platforms like go4WWorldBusiness. These platforms give you access to the list of verified palm oil buyers.
  
  
• Participate in international trade fairs such as PALMEX, Palm Oil Trade Fair and Seminar (POTS), Palm Oil Expo, etc.
  
  
• Reach out to export promotion councils and chambers of commerce in your region that can provide palm oil buyers contact. 
  
  
• Build a strong online presence and use social media channels like Linkedin to directly connect with importers. You can also expand your reach through other marketing tactics, like Google Ads and email marketing. 

Frequently Asked Questions (FAQs):

1. How can I find palm oil buyers?

Here are the most effective ways to find genuine & reliable palm oil importers or buyers globally:

• Use online B2B trade platforms
• Attend food and oil industry expos
• Connect with government-backed export councils
• Use email marketing and social media marketing

2. Who are the major buyers of palm oil?

Here are the major palm oil buyers as per their ranking:

• India
• China
• Pakistan
• United States
• Netherlands

3. Who is the largest consumer of palm oil in the world?

Currently, India is the largest consumer of palm oil worldwide, followed by China and the EU.

4. What is the import duty on palm oil in India?

India has cut the basic import duty on crude palm oil from 20% to 10% to boost local refining. With additional charges, the total effective duty is around 16.5%. You can always check out DGFT notifications for updated rates.

5. What is the current price of palm oil? 

Though the price may change depending on factors like grade, origin, and logistics, the average palm oil price per ton varies between $850–$1,100 per metric ton.

6. What is the palm oil HSN code?

1511 is the palm oil HSN code. 

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