PALMOILMAGAZINE, JAKARTA – Pakistan imported palm oil worth US$2.93 billion throughout 2024, with Indonesia remaining the leading supplier at US$2.6 billion, despite a slight 2% decline compared to the previous year.
According to data from World’s Top Exports – Palm Oil Imports by Country (2024), cited by Palmoilmagazine.com on Tuesday (28/10/2025), Indonesia and Malaysia jointly dominate almost the entire palm oil supply to Pakistan, accounting for nearly 100% of total imports.
Malaysia ranked second with exports valued at US$344.8 million, marking a 14.2% increase from 2023. In contrast, supplies from other countries — including Singapore, Thailand, Saudi Arabia, and Sweden — were negligible, each contributing less than US$2 million.
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Malaysia’s export growth was the only positive performance among Pakistan’s palm oil suppliers in 2024. Nevertheless, Indonesia remains overwhelmingly dominant, holding more than 88% of Pakistan’s import market share.
Overall, Pakistan’s total palm oil imports dropped by about 0.4% from 2023, when total purchases reached US$2.94 billion. This minor decline aligns with global palm oil price fluctuations and Pakistan’s domestic stock management policies, which often adjust based on local demand and the rupee’s exchange rate against the US dollar.
For Indonesia, Pakistan continues to serve as one of its most important palm oil export destinations in South Asia, alongside India and Bangladesh. Export performance to Pakistan remains a key indicator of the national palm oil trade’s strength, given its substantial contribution to foreign exchange earnings.
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Although Indonesia experienced a slight decline in 2024, its commanding market share of over 80% underscores its continued leadership. However, Malaysia’s notable increase serves as a reminder for Indonesian exporters to strengthen market strategies and enhance competitiveness in pricing and logistics.
Pakistan’s 2024 Palm Oil Import Value by Country:
- Indonesia: US$2.6 billion (↓ 2%)
- Malaysia: US$344.8 million (↑ 14.2%)
- Singapore: US$2 million (↓ 4.3%)
- Thailand: US$94,000 (↓ 80.6%)
- Saudi Arabia: US$61,000 (no 2023 data)
- Sweden: US$2,000 (no 2023 data)
Together, these countries accounted for 100% of Pakistan’s total palm oil imports in 2024. (P2)
