Malaysia Palm Oil Export Data – HS Code 1511 | Top Buyers, Global Rank & Trade Insights
What Does HS Code 1511 Cover?
HS Code 1511 covers palm oil and its fractions, whether or not refined, but not chemically modified. It is the main code for tracking Malaysia's palm oil trade and includes:
- Crude palm oil (CPO) — HS 1511.10, the unrefined oil pressed from the fruit
- Refined, bleached and deodorised (RBD) palm oil — ready for food manufacturing
- Palm olein — the liquid fraction, widely sold as cooking oil
- Palm stearin — the solid fraction, used in margarine, shortening, soaps and oleochemicals
Refined products and fractions are reported under HS 1511.90. Palm kernel oil, which comes from the seed rather than the fruit, falls under a separate heading (HS 1513) and is not included in these figures.
Malaysia Palm Oil Export Data: Key Statistics
Here is a quick snapshot of the latest Malaysia palm oil export data for HS 1511, covering value, global rank, top buyer and the trade balance.
| Metric | Value | Detail |
|---|---|---|
| HS 1511 exports (2023) | US$11.90 Billion | ▼ 29.9% vs 2022 |
| HS 1511 exports (2022) | US$16.97 Billion | Boosted by a global price spike |
| Global exporter rank (2023) | #2 | 28.06% of world HS 1511 exports |
| Largest buyer | India | 19.5% share, US$2.32 billion |
| Top 10 buyers' combined share | 56.2% | The rest is spread across many markets |
| HS 1511 imports (2023) | US$837 Million | 93% from Indonesia |
| Trade surplus (2023) | +US$11.06 Billion | Exports are 14x imports |
Malaysia Palm Oil Exports: 2022 vs 2023
Malaysia palm oil export data shows a sharp swing between 2022 and 2023. In 2022, HS 1511 exports reached US$16.97 billion. That year, vegetable oil prices hit record highs: sunflower oil supplies from the Black Sea region were disrupted, and a short pause in Indonesian palm oil shipments tightened global supply further. Buyers turned to Malaysian palm oil, and the high prices lifted export value.
In 2023, prices cooled as supply chains recovered, and Malaysia's export value fell by about 30% to US$11.90 billion — a drop of roughly US$5.07 billion. Because palm oil is traded in large, steady volumes, most of this decline reflects lower prices rather than a collapse in demand. Malaysia still remained the world's second-largest supplier.
| Year | Exports (US$) | Imports (US$) | Trade Surplus (US$) |
|---|---|---|---|
| 2022 | 16.97 Billion | 1.45 Billion | +15.52 Billion |
| 2023 | 11.90 Billion | 837 Million | +11.06 Billion |
| Change | −29.9% | −42.3% | −28.7% |
Top Buyers of Malaysian Palm Oil
Malaysia sells palm oil to a wide spread of countries. The top 10 buyers took 56.2% of HS 1511 exports in 2023, leaving nearly 44% to many smaller markets — a much more diversified profile than most Malaysian commodities. India is the clear number one, buying US$2.32 billion, more than three times the next market.
| Rank | Buyer Country | Value 2023 (US$) | Share |
|---|---|---|---|
| 1 | India | 2.32 Billion | 19.5% |
| 2 | Kenya | 719 Million | 6.04% |
| 3 | China | 659 Million | 5.53% |
| 4 | Turkey | 609 Million | 5.12% |
| 5 | Japan | 497 Million | 4.18% |
| 6 | Pakistan | 439 Million | 3.69% |
| 7 | Vietnam | 391 Million | 3.28% |
| 8 | Philippines | 383 Million | 3.21% |
| 9 | Netherlands | 348 Million | 2.92% |
| 10 | Afghanistan | 329 Million | 2.77% |
What drives demand in the key markets
- India: the world's largest edible-oil importer. Indian buyers are highly price-sensitive and switch between palm, soybean and sunflower oil depending on the price gap — so India's purchases can swing sharply from month to month.
- Kenya: a regional refining and distribution hub that supplies cooking oil across East Africa.
- China and Japan: large food-processing industries that use palm oil in instant noodles, snacks, bakery fats and confectionery.
- Turkey, Pakistan and Afghanistan: growing populations and strong demand for affordable cooking oil and ghee-style fats.
- Netherlands: Europe's main gateway — palm oil landed at Dutch ports is refined and redistributed across the EU.
Malaysia Palm Oil Exports by Region
Grouping the top buyers by region shows how broad Malaysia's reach is. South Asia (India, Pakistan, Afghanistan) is the biggest regional block at 26.0% of export value. East Asia, Turkey and Europe, Southeast Asia and East Africa each take a meaningful slice — and the remaining 43.8% goes to many other buyer countries across the Middle East, Africa, Europe and the Americas.
| Region (top-10 buyers) | Countries | Share of Exports |
|---|---|---|
| South Asia | India, Pakistan, Afghanistan | 25.96% |
| East Asia | China, Japan | 9.71% |
| Turkey & Europe | Turkey, Netherlands | 8.04% |
| Southeast Asia | Vietnam, Philippines | 6.49% |
| East Africa | Kenya | 6.04% |
| Other markets | All remaining buyer countries | 43.76% |
Malaysia vs Indonesia: The World's Palm Oil Duopoly
Comparing Malaysia palm oil export data with the rest of the world shows how concentrated this market is. World HS 1511 exports exceeded US$42 billion in 2023. Indonesia led with US$22.69 billion (53.49%), and Malaysia followed with US$11.90 billion (28.06%). Together, the two neighbours supplied 81.6% of all palm oil traded globally. Indonesia's exports were about 1.9 times Malaysia's.
| Rank | Exporter | Exports 2023 (US$) | World Share |
|---|---|---|---|
| 1 | Indonesia | 22.69 Billion | 53.49% |
| 2 | Malaysia | 11.90 Billion | 28.06% |
| 3 | Netherlands | 1.15 Billion | 2.70% |
| 4 | Thailand | 857 Million | 2.02% |
| 5 | Guatemala | 843 Million | 1.98% |
| 6 | Djibouti | 539 Million | 1.27% |
| 7 | Colombia | 491 Million | 1.15% |
| 8 | Germany | 482 Million | 1.13% |
| 9 | Estonia | 378 Million | 0.89% |
| 10 | Côte d'Ivoire | 297 Million | 0.70% |
Why Malaysia Also Imports Palm Oil
Malaysia palm oil export data is only half the picture. Malaysia also imported US$837 million of HS 1511 products in 2023, down 42.3% from US$1.45 billion in 2022. Almost all of it — 93% — came from neighbouring Indonesia, with Papua New Guinea and Singapore supplying most of the rest.
These imports support Malaysia's large refining and processing industry, which turns crude palm oil into higher-value products such as olein, stearin and specialty fats for export. Even so, imports are tiny compared with exports: Malaysia sells about 14 times more palm oil than it buys.
| Source Country | Imports 2023 (US$) | Share |
|---|---|---|
| Indonesia | 782 Million | 93.0% |
| Papua New Guinea | 41 Million | 4.9% |
| Singapore | 11 Million | 1.31% |
🌴 Get Verified Malaysia Palm Oil Trade Data
Access shipment-level HS 1511 export and import records with buyer and supplier names, product grades (CPO, RBD, olein, stearin), destination markets and values. Ideal for finding buyers, tracking competitors and pricing new markets.
Explore Malaysia Trade Data →What's Driving Malaysia's Palm Oil Trade?
Strengths
- Refining capacity: Malaysia is known for exporting value-added refined products, not just crude oil — which earns more per tonne and serves food manufacturers directly.
- Strong logistics: major ports such as Port Klang and Pasir Gudang, plus dedicated bulk-liquid terminals, make it easy to ship to Asia, Africa and Europe.
- Diversified buyers: with 44% of export value going beyond the top 10 markets, Malaysia is less exposed to any single country than many commodity exporters.
- Sustainability credentials: a growing share of Malaysian output is certified under schemes such as RSPO, which matters to buyers in Europe and Japan.
Challenges
- Price volatility: palm oil prices track soybean, sunflower and crude oil prices, so export earnings can swing by billions from one year to the next — as 2022–2023 showed.
- Competition from Indonesia: Indonesia has a larger planted area and lower costs, and supplies more than half of world exports.
- Ageing trees and replanting: older palms yield less, and replanting takes years before new trees reach full output.
- Labour availability: harvesting is labour-intensive, and worker shortages on plantations can reduce output.
- Deforestation-free sourcing: European buyers increasingly require proof that oil comes from deforestation-free land (EUDR), adding traceability costs for growers.
Outlook: Malaysian Palm Oil in the Years Ahead
The latest Malaysia palm oil export data points to a market that has returned to normal after the extraordinary price spike of 2022. Malaysia's position as the world's second-largest exporter is secure, and its broad buyer base gives it resilience. Future growth is likely to come from higher-value refined and specialty products, certified sustainable supply for premium buyers, and fast-growing markets in South Asia, Africa and the Middle East where demand for affordable cooking oil keeps rising.
How to Use Malaysia Palm Oil Export Data
Shipment-level Malaysia palm oil export data goes much deeper than annual totals. Here is how traders and manufacturers put it to work:
- Find active buyers: identify importers in India, Africa, China and beyond that already source HS 1511 from Malaysia.
- Track grades and prices: compare unit values for crude palm oil, RBD palm oil, olein and stearin across markets.
- Benchmark competitors: see which Malaysian refiners and exporters ship to which countries, and in what volumes.
- Spot new markets: find fast-growing destinations before competitors do.
Frequently Asked Questions (FAQs)
What is HS Code 1511?
HS Code 1511 covers palm oil and its fractions, whether or not refined, but not chemically modified. It includes crude palm oil (HS 1511.10) and refined palm oil, palm olein and palm stearin (HS 1511.90). Palm kernel oil is classified separately under HS 1513.
How much palm oil does Malaysia export?
Malaysia exported US$11.90 billion of HS 1511 palm oil in 2023, down about 30% from US$16.97 billion in 2022. The fall was driven mainly by lower global vegetable oil prices after the 2022 price spike.
Which country buys the most palm oil from Malaysia?
India is the largest buyer, taking 19.5% of Malaysia's HS 1511 exports in 2023 — about US$2.32 billion. Kenya (6.04%), China (5.53%), Turkey (5.12%) and Japan (4.18%) follow.
Is Malaysia the largest palm oil exporter in the world?
No. Malaysia is the world's second-largest palm oil exporter, with a 28.06% share in 2023. Indonesia is first with 53.49%. Together, the two countries supply more than 80% of global palm oil exports.
Does Malaysia import palm oil?
Yes, in small amounts. Malaysia imported US$837 million of HS 1511 palm oil in 2023, 93% of it from Indonesia, mainly to supply its refining industry. Exports are about 14 times larger than imports.
How can I get Malaysia palm oil import and export data?
MalaysiaTradeData.com provides verified Malaysia HS 1511 trade data, including shipment records, buyer and supplier names, product grades, destination markets and values. Visit our Malaysia Export Data page to request a free sample.
