Top 5 Edible Oil Producing Countries in the World

Edible oils refer to vegetable and animal oils that are fit for human consumption, and have numerous uses in food preparation. There are a variety of types of edible oils available depending on the source, including various plant seeds and nuts, and even some fish species. The countries that produce the most edible oil can vary by year due to changes in climate and seasonal conditions; still, the most common edible oil-producing countries tend to be the same year after year. Let’s take a look at the top 5 edible oil-producing countries in the world today. They are also the largest edible oil exporters in the world.

1) India

India is currently among the top 3 edible oil-exporting countries globally. India’s edible oil export market is largely driven by demand from Asia. Owing to a significant rise in living standards and rise in disposable income levels, Indians have increasingly adopted western food habits, especially as more and more people choose to eat out. According to USDA Foreign Agricultural Service data, there are about 467 edible oil processing plants spread across 21 states of India with an annual production capacity of 859,667 metric tons of edible oils; these include coconut, groundnut, soybean, and sunflower oils.

2) Indonesia

Indonesia, with a population of over 261 million people, is one of the largest producers of palm oil. It’s also among one of India’s biggest trade partners, exporting over US$15 billion worth of goods per year. Moreover, many major companies rely on Indonesia for their bulk edible oil needs. The country supplies more than 90% of all edible oils consumed globally; making it an invaluable source to countries all over the world. Furthermore, they boast vast palm plantations that allow them to produce 730 thousand metric tons (MT) per day; which translates into 35 million MT annually. When you combine such a large supply and reliable service with Indonesia’s competitive prices, it becomes easy to see why many businesses prefer trading with them instead of anywhere else in Asia or Africa.

3) Malaysia

Malaysia is one of Asia’s largest exporters of palm oil and a top producer of edible oils. Edible oils accounted for 35 percent of Malaysia’s exports. The Malaysian Palm Oil Board (MPOB) established a minimum export price (MEP) policy, which helped to make Malaysia one of the world’s leading producers of palm oil. In 2012, Malaysia exported $8 billion worth of edible oils, making it number one on our list of top edible oil-exporting countries. In 2013, exports reached $10 billion dollars. The country is also number two in terms of global soybean production; 90 percent goes to China to make cooking oil or soybean meal feedstock.

4) Mexico

Mexico is ranked number one with an export amount of 44.8% out of all exported edible oils. Mexico produces a variety of different oils including lard, corn oil, and cottonseed oil for both domestic and international markets. Their largest edible oil importers are countries like China, Indonesia, Canada, and Germany. In total, Mexico exports 17 percent more edible oils than it imports from abroad each year. However, in 2018 Mexico produced over 32 million tons of edible oil but only consumed 21 million tons domestically within their own country. They also have a very efficient supply chain which helps move products quickly to importers worldwide. They can also handle large orders due to their advanced technology which makes them stand out among other producers around the world.

5) Argentina

Argentina is a major oil producer, and it is one of the top exporters of bulk edible oils to developed countries. The bulk edible oil sector accounts for approximately 3% of Argentina’s GDP, and it employs over 10,000 people directly. Over 80% of Argentina’s edible oil exports are destined for countries outside of South America; most notably, Japan and Saudi Arabia account for half of all exports to Asia. These two countries are also responsible for 40% of Argentina’s overall edible oil export volume. Over 90% of these exports are produced using soybean beans as a primary ingredient.

Conclusion

There’s no doubt that edible oils are gaining popularity as more and more people become aware of the health benefits they provide. From improving heart health to reducing inflammation, there’s a lot to love about edible oils! the five countries have a lot in common: all of them have a healthy population, with the rate of children suffering from malnutrition being less than 15%. All five countries spend more than 3% of their GDP on R&D. The main economic activity of these top 5 oil producer countries is agriculture. Oil crops are no exception.

Original Source: https://blog.tradologie.com/top-5-edible-oil-producing-countries-in-the-world/