Africa will become a key continent in determining the dynamics of the global palm oil market in the coming years

Population growth and urbanization will make Africa a key player in the global palm oil market, according to industry publication Bernama. Experts are calling for a reorientation of tropical palm oil supply to the region, where growing demand will determine growth for decades.

Africa will be a key player both as a consumer and producer of agricultural products, including high-yield palm oil. According to experts from the consulting firm Wilmar International, Africa’s population will double to 2.5 billion by 2050, and by the end of the century, it will exceed 4 billion. The region is already becoming a major consumer and producer of agricultural products, but unlocking potential market demand requires supportive and consistent land management policies and increased infrastructure projects.

Experts note that expanding land under cultivation is no longer the primary driver of growth. The future lies in new technologies, crop optimization, and diversification, which will unlock the potential of crops in the continent’s climate.

Moreover, purchases are currently being held back by a shortage of foreign currency and logistics. Consumption growth is only realistic if buyers receive financing.

Tags: Africa, palm oil