Global oils and fats scenario
World production of oils and fats stood at 206 million tonnes (Figure 2). Palm oil and palm kernel oil accounted for 64.7 million tonnes (31%) of this. Soybean oil output contributed 51.5 million tonnes (25%) and rapeseed oil registered 24.9 million tonnes (12%).
Of the 83.2 million tonnes of oils and fats traded worldwide during the year, palm oil and palm kernel oil jointly accounted for 56.2% (Figure 3).
Malaysia remained a major player in the oils and fats export market. Its palm oil exports of 16 million tonnes represented 36.8% of the global palm oil trade (Figure 4).