Indonesia Expects Global Vegetable Oil Demand to Continue Growing

The Indonesian Trade Ministry strongly believes that the world's demand for vegetable oils will continue to increase.

IDXChannel - The Indonesian Trade Ministry strongly believes that the world's demand for vegetable oils will continue to increase. 

This is in line with the increase in global population. Various studies predict the world's population in 2050 could reach 10 billion people. 

Farid Amir, Director of Exports of Agricultural and Forestry Products at the Directorate General of Foreign Trade, said that the world's demand for vegetable oils could reach 307 million metric tons by 2050, increasing twofold from 165 metric tons in 2013.

"In line with the world's population growth, expected to reach 10 billion people in 2050, the demand for vegetable oils is predicted to increase twofold from 165 million tons in 2013, to 307 million tons in  in 2050," said Amir in a public seminar on Wednesday (14/6/2023).

Meanwhile, the global palm oil production in 2021 stood at 75.5 million metric tons. Indonesia accounts for more than 60% of the world's total palm oil production and 22% of the world's total vegetable oil production.

"We should be proud, considering that Indonesia's palm oil production is no less than 46 million tons, being able to export 35 million tons of CPO and its derivatives in 2021," he continued. (WHY)