Palm Oil Alliance Formed by 5 South Asian Importing Countries

31 October 2022

Trade associations of edible oil from five palm oil importing countries in South Asia – India, Pakistan, Sri Lanka, Bangladesh, and Nepal have formed Asian Palm Oil Alliance (APOA). The idea is to gain collecting bargaining power and make imports sustainable. The alliance would work towards ensuring that palm is recognized as an economical, high-quality, and healthy vegetable oil and to change the negative image of palm oil. Here’s a complete view of palm oil imports into these countries.

Palm Oil Imports by 5 Asian Countries

India is the largest importer of palm oil in Asia, accounting for about 18% of global imports, followed by China (11%), Pakistan (6%), and Bangladesh (2%). How much palm oil do India and other Asian countries import? Who are the biggest palm oil supplier countries? What are the import trends of palm in past years? Let’s understand the answer to these trade-related questions from essential information.

India

India is the largest palm oil importer country in the world. It accounts for about 18% of global palm oil imports. India imported US$9,568 million worth of palm oil in 2021, up from the previous year. Check India’s ten-year import trends of palm oil.  

Malaysia and Indonesia are the biggest suppliers of palm oil to India, accounting for more than 80% of the total value of shipments. In 2021, India imported palm oil worth US$4,055 million from Malaysia and US$3,939 million from Indonesia. Understand the trade picture from the chart given.

Pakistan

Pakistan is the third largest palm oil importer in the world, accounting for 6% of the total value of shipments. China is the second top importer of palm oil (11%). In 2021, Pakistan imported palm oil worth US$3,418 million in 2021, an increase from the previous year. Here are Pakistan’s import trends of palm oil reported in the last ten years.

Indonesia is a net exporter of palm oil to Pakistan, accounting for 88% of Pakistan’s total palm oil imports in 2021. Malaysia shared about 12% of Pakistan’s palm oil imports. Visualize Pakistan’s top import partners of palm oil.

Sri Lanka

Sri Lanka’s palm oil imports totaled US$89 million in 2021. In the previous year also, Sri Lanka imported palm oil worth US$89 million. Visualize Sri Lanka’s import trends of palm oil.

Malaysia is a net supplier of palm oil to Sri Lanka, accounting for almost 90% of the total value of shipments. The Philippines and Indonesia also export palm oil to Sri Lanka.  

Bangladesh

Bangladesh’s palm oil imports increased to US$2,930 million in 2021 from US$1,802 million reported a year earlier. In the past months, Bangladesh has reported a rise in palm oil imports. Understand the market scenario from data visualization.

As Indonesia is the top producing and exporting country of palm oil in the world, it is also a net supplier of palm oil to Bangladesh as well. In 2021, Bangladesh imported Indonesian palm oil worth US$2,732 million, accounting for 93% of the total value of shipments.

Nepal

Nepal’s palm oil imports have increased in the past months. In 2021, Nepal imported palm oil worth US$286, an increase from the previous year. See stats of Nepal’s imports of palm oil reported in the last ten years.

Like other palm oil importing countries in Asia, Indonesia is also a net supplier of palm oil to Nepal, accounting for about 82% of the total value of shipments. Nepal imported Indonesian palm oil worth US$234 million in 2021.

APOA held its first general body meeting on the sidelines of the Globoil Summit being held at Agra, India and the next meeting is expected to take place in Indonesia early next year 2023. Globoil Summit is one of the World’s Leading Edible Oils and Agri Trade Conference, Exhibitions & Awards. 2022 also makes the 25^th year celebration of Globoil India.