Indonesia’s Palm Oil Export Statistics for 2023

Explore Indonesia's palm oil export statistics for 2023. Indonesia's palm oil exports accounted for a total value of $22.67 billion in 2023.

Indonesia’s Palm Oil Export Statistics for 2023

Indonesia’s Palm Oil Export Statistics for 2023

Indonesia is one of the biggest palm oil exporters and producers globally, with the palm oil enterprise playing a massive role in the nation's economy. Indonesia exported palm oil worth a total value of $22.67 billion in 2023. The HS code for Palm oil is 1511. Indonesia exports the most palm oil in the world, while palm oil is Indonesia's second-largest exported product. Indonesia's overall palm oil exports had a complete production volume of 46.98 million metric tons in 2023, with a slight rise in its production from the previous 12 months. Indonesia’s palm oil exports had a total market share of 59% in worldwide exports in 2023. Indonesia has been a key player in the international palm oil marketplace for many years, with large plantations spread throughout the archipelago. Indonesia's tropical weather and fertile soil make it an ideal vicinity for palm oil cultivation, leading to high yields and manufacturing degrees. In 2024, it's far anticipated that Indonesia will export about 29 million metric heaps of palm oil, a decline of almost 4% from the year before. In this article, we’ll delve into Indonesia’s palm oil export statistics for 2023 and discover the traits and forecasts.

Who are the Top 10 export partners of Indonesia’s palm oil exports?

top 10 export partners of Indonesia’s palm oil exports | Indonesia palm oil export partner

India is the biggest export partner of Indonesia’s palm oil exports. India imported palm oil worth $4.5 billion from Indonesia in 2023. The top 10 export partners of Indonesian palm oil in 2023 include:

  1. India: $4.5 billion
  2. China: $3.6 billion 
  3. Pakistan: $2.17 billion 
  4. USA: $1.51 billion 
  5. Bangladesh: $1.16 billion 
  6. Egypt: $798.53 million 
  7. Vietnam: $577.19 million 
  8. Myanmar: $521.09 million
  9. Russia: $444.61 million 
  10. Philippines: $403.33 million 

What are the major types of palm oil exports by Indonesia?

Indonesia’s top palm oil export varieties in 2023 include:

  1. Refined Palm oil and its fractions: $19.61 billion
  2. Crude palm oil: $1.90 billion

Who are Top 10 Palm oil exporter Companies in Indonesia?

The top 10 Palm oil exporting-supplying companies in Indonesia in 2023 include:

  1. Sinar Mas Agro Resources and Technology (SMART): $40 billion
  2. Wilmar International: $32.19 billion
  3. Golden Agri-Resources: $9.8 billion
  4. Astra Agro Lestari: $1.36 billion
  5. First Resources: $981 million
  6. Bumitama Agri: $695.81 million
  7. Salim Ivomas Pratama: $348 million
  8. Rajawali Nusantara Indonesia: $65 million
  9. Provident Agro: $53.2 million
  10. Asian Agri: $6.7 million

What are the key highlights of Indonesia’s palm oil exports in 2023?

Total palm oil exports in 2023

$22.67 billion

Biggest palm oil export partner in 2023

India ($4.5 billion)

Top palm oil export variety in 2023

Refined Palm oil ($19.61 billion)

Biggest palm oil export company in 2023

Sinar Mas Agro Resources and Technology

Total palm oil market share in 2023


Palm oil production volume in 2023

46.98 million metric tons

How to find potential palm oil suppliers in Indonesia online?

TradeImeX allows you to find palm oil suppliers in Indonesia at affordable charges online. To discover potential palm oil suppliers in Indonesia online with TradeImeX, make use of the advanced seek filters to slim down your alternatives primarily based on particular criteria along with location, product type, and certifications. By leveraging the strong database of TradeImeX, you could get access to special profiles of palm oil suppliers, examine their offerings, and connect to official businesses that align together with your business requirements. Engaging with TradeImeX gives a streamlined method to sourcing palm oil suppliers in Indonesia, ensuring a professional and easy procurement method.

Reasons Indonesia Bans Palm Oil Exports

Indonesia started a total ban on palm oil exports in April 2022. This action could put pressure on high cooking oil prices globally and jeopardize global food prices. The prohibition is implemented due to rising prices and local cooking oil shortages in Indonesia, which have recently sparked demonstrations. Strangely, Indonesia is the top producer of crude palm oil (CPO) worldwide. The Indonesian government decided to reduce the cost of domestic, branded cooking oil even though it recognized that the ban on the export of palm oil would negatively affect consumers abroad. 


In conclusion, Indonesia’s palm oil export statistics for 2023 demonstrate the nation’s function as a global chief within the zone. Indonesia continues to be a global energy in palm oil exports with India turning into its largest export marketplace in 2023. With robust interest, competitive pricing, and a focus on sustainability, Indonesia is poised to hold its dominance in the palm oil export market and prevent future monetary increases. Looking ahead, Indonesian palm oil exports are expected to preserve to upward thrust, with a call for a developing market and extra intake of palm oil products.

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