How much money is the palm oil worth to the Indonesian economy each year?

Palm oil accounts for 11% of Indonesia’s export earnings of $5.7bn. Maintaining its status as the world’s largest producer of palm oil, Indonesia has projected a figure of 40 million tonnes by 2020.

How much is the palm oil industry worth in Indonesia?

Value of total palm oil exports Indonesia 2011-2020

In 2020, the value of Indonesia’s total palm oil exports amounted to around 18.45 million U.S. dollars. Indonesia is the world’s largest producer and exporter of palm oil, followed by Malaysia.

How much palm oil does Indonesia produce each year?

Production volume of palm oil in Indonesia from 2012 to 2020 (in million metric tons)

Characteristic Production of palm oil in million metric tons
2020 48.3
2019 47.12
2018 42.88
2017 34.94

How many people work in the palm oil industry in Indonesia?

In Indonesia, 3.7 million people are believed to be employed in the palm oil industry.

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How does palm oil help the economy?

Palm oil is one of the most profitable land uses in the tropics. For the main producing countries, palm oil can significantly contribute to national economies, driving rapid economic growth and contributing to the alleviation of rural poverty.

Is palm oil cancerous?

It may be safe to say that you use or eat palm oil products daily. However, this product has been linked to cancer risk. According to the European Food Safety Authority (EFSA), palm oil can cause cancer when processed at high temperatures.

Why is palm oil so bad?

This large-scale destruction of rainforests and carbon-rich peatland landscapes is releasing globally significant quantities of carbon pollution into the atmosphere, making palm oil a major global driver of human induced climate change.

What 3 countries account for the largest demand of palm oil?

The demand for palm oil is expanding globally. Indonesia, India, and China are among the top palm oil-consuming countries. According to the official data, in India, about 349,000 hectare spread across 16 states have total palm oil potential in 2019.

How much palm oil is produced each year 2020?

The global production of palm oil was around 72.27 million metric tons in the marketing year 2020/21, increasing from approximately 73.23 million metric tons in 2019/2020. In that period, Indonesia and Malaysia were the leading exporters of palm oil worldwide. Palm oil grows mainly in Asia, Africa and Latin America.

How much of the world palm oil comes from Indonesia?

In 2018, the world produced 72 million tonnes of oil palm. Indonesia accounted for 57% of this (41 million tonnes), and Malaysia produced 27% (20 million tonnes). 84% of global palm oil production comes from Indonesia and Malaysia.

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Who produces the most palm oil?

Indonesia is the largest producer of palm oil, followed by Malaysia – both countries account for 84% of the worlds palm production.

How many jobs are in the palm oil industry?

The research finds that $39 billion of GDP benefits are attributable to palm oil imports, representing 2.9 million jobs around the world.

How big are the oil palm plantations in Indonesia?

In 2019, the total size of oil palm plantations in Indonesia was around 14.6 million hectares. This was expected to increase in the future to meet growing domestic consumption of palm oil, largely from biodiesel.

What are the negative effects of palm oil farming?

The biggest impact of unsustainable palm oil production is the large-scale devastation of tropical forests. As well as widespread habitat loss for endangered species like Asian rhinos, elephants, tigers and orangutans, this can lead to significant soil erosion.

What are the disadvantages of using palm oil?

Problems of Palm Oil

  • Sustainability concerns.
  • Production of palm oil contributes to deforestation.
  • Habitat destruction.
  • Loss of biodiversity.
  • Endangerment of species.
  • Ecological imbalance.
  • Climate change.
  • Loss of habitats for local tribes.

Is palm oil bad for the economy?

2019). The oil palm boom has contributed to economic growth, but it has also led to negative envi- ronmental effects. Numerous studies identified oil palm as a driver of deforestation and land-use change, as well as associated losses in biodiversity and ecosystem functions.

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