Malaysian Palm Oil Production Surges to 193.38 Lakh Tonnes in 2024

08-Apr-2025 04:45 PM

Kuala Lumpur: As per the Malaysian Palm Oil Board (MPOB), Malaysia’s crude palm oil production rose to 193.38 lakh tonnes in 2024, up from 185.52 lakh tonnes in 2023.

Palm oil exports surged by 17.68 lakh tonnes to 169.03 lakh tonnes, while palm kernel oil exports rose by 1.69 lakh tonnes to 11.51 lakh tonnes. Exports of oleo chemicals, biodiesel, and finished products also recorded growth.

In total, exports of palm-based products increased by 21.73 lakh tonnes, reaching 266.60 lakh tonnes in 2024. Meanwhile, palm oil imports declined sharply from 9.90 lakh tonnes to 2.54 lakh tonnes, though palm kernel oil imports saw a slight rise.

By year-end, surplus stock of palm oil in Malaysia dropped to 17.09 lakh tonnes, down 5.82 lakh tonnes from the previous year. Crude and refined oil stocks both recorded significant declines.