U.S. Palm Oil Imports Slip 6.8% in 2024, Indonesia Still Leads the Market

PALMOILMAGAZINE, WASHINGTON, D.C. — The value of U.S. palm oil imports reached USD 1.88 billion in 2024, marking a 6.8% decline compared to the previous year’s USD 2 billion. Despite the dip, the U.S. market continues to show strong reliance on palm oil supplies from Southeast Asia, particularly Indonesia and Malaysia.

According to recent trade data, Indonesia remains the dominant supplier, with exports to the U.S. valued at USD 1.6 billion, down 6.9% from 2023. In contrast, Malaysia recorded an 8.1% increase, reaching USD 204.1 million in export value.

Other notable suppliers include Mexico (USD 18.1 million), Colombia (USD 16.4 million), and the Philippines (USD 15.6 million), rounding out the top five sources of palm oil for the U.S. market.

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In total, 15 countries accounted for 99.9% of U.S. palm oil imports. Several new suppliers also showed strong growth momentum, including the Netherlands (up 146.4%), Jordan (up 89.7%), Sweden (up 54.2%), and Nigeria (up 31.2%).

However, some traditional exporters experienced steep declines. Brazil’s exports fell 78.2%, followed by Colombia (-63.4%), Singapore (-44.1%), and Ecuador (-28.1%), according to World’s Top Exports – Palm Oil Imports by Country (2024), cited by Palmoilmagazine.com on Monday (Oct 27, 2025).

Trade analysts attribute the overall decline in U.S. palm oil imports mainly to global price fluctuations and inventory adjustments within the food and bioenergy sectors, rather than a long-term drop in demand. The United States remains a key market for global palm oil producers, particularly in the processed food, cosmetics, and biofuel industries.

With growing demand for green energy and alternative raw materials, U.S. palm oil imports are projected to rebound in the coming years.

Also Read: Indonesian Ministry of Industry Backs Cargill’s High-Tech Palm Oil Refinery in Lampung to Strengthen Industrial Competitiveness

Top 15 Palm Oil Exporters to the U.S. in 2024:

1. Indonesia – USD 1.6 billion (down 6.9% from 2023)
2. Malaysia – USD 204.1 million (up 8.1%)
3. Mexico – USD 18.1 million (down 0.7%)
4. Colombia – USD 16.4 million (down 63.4%)
5. Philippines – USD 15.6 million (n/a)
6. Ecuador – USD 10 million (down 28.1%)
7. Singapore – USD 7.4 million (down 44.1%)
8. Ghana – USD 3.7 million (down 4%)
9. Netherlands – USD 1.34 million (up 146.4%)
10. Sierra Leone – USD 1.31 million (up 11.6%)
11. Jordan – USD 1.2 million (up 89.7%)
12. Liberia – USD 851 thousand (down 1.7%)
13. Nigeria – USD 811 thousand (up 31.2%)
14. Brazil – USD 449 thousand (down 78.2%)
15. Sweden – USD 367 thousand (up 54.2%)

(P2)