InfoSAWIT, WASHINGTON, D.C. — The value of US palm oil imports reached US$1.88 billion throughout 2024, marking a decline of about 6.8% compared to the previous year when imports reached US$2 billion. Despite the correction, the palm oil market still shows high dependence on supplies from Southeast Asia, especially Indonesia and Malaysia.
Latest data records that Indonesia is the dominant supplier, with export value to the US reaching US$1.6 billion, although down 6.9% from 2023. Meanwhile, Malaysia recorded positive growth of 8.1%, with export value of US$204.1 million.
In addition to these two main countries, Mexico (US$18.1 million), Colombia (US$16.4 million), and the Philippines (US$15.6 million) complete the top five palm oil suppliers to the American market.
From the total import value, 15 countries accounted for 99.9% of US palm oil supply. Several new countries also began showing an increasing export trend, including the Netherlands (up 146.4%), Jordan (up 89.7%), Sweden (up 54.2%), and Nigeria (up 31.2%).
Referring to the World's Top Exports data – Palm Oil Imports by Country (2024), quoted by InfoSAWIT, Monday (27/10/2025), however, on the other hand, several countries experienced sharp declines in their export values to the US, such as Brazil (-78.2%), Colombia (-63.4%), Singapore (-44.1%), and Ecuador (-28.1%).
Trade analysts assess that the weakening of US palm oil imports in 2024 was more influenced by global price fluctuations and adjustments in food and energy industry stocks, not a long-term decline in demand. The United States itself remains one of the important markets for global palm oil producers, especially in the processed food, cosmetics, and biofuel industries.
With projections of growing green energy consumption and increasing needs for alternative raw materials, palm oil demand in the US is expected to rise again in the coming years.
Here are the export values of palm oil supplying countries to the United States:
Indonesia: US$1.6 billion (down 6.9% from 2023)
Malaysia: US$204.1 million (up 8.1%)
Mexico: US$18.1 million (down 0.7%)
Colombia: US$16.4 million (down 63.4%)
Philippines: US$15.6 million (2023 data not available)
Ecuador: US$10 million (down 28.1%)
Singapore: US$7.4 million (down 44.1%)
Ghana: US$3.7 million (down 4%)
Netherlands: US$1.34 million (up 146.4%)
Sierra Leone: US$1.31 million (up 11.6%)
Jordan: US$1.2 million (up 89.7%)
Liberia: US$851 thousand (down 1.7%)
Nigeria: US$811 thousand (up 31.2%)
Brazil: US$449 thousand (down 78.2%)
Sweden: US$367 thousand (up 54.2%)
(T2)
