Palm oil production and use to double in coming decades as demand for the product rises
In a reversal of trends, the US is expected to grow its palm oil production by an average of 1.4 million tons per year, a major shift from the past decade when the industry saw its growth shrink.
In an annual report to Congress on Wednesday, the Agriculture Department reported that the number of palm oil-producing countries in the world is expected hit a record 8.1 million by 2030.
Palm oil is a crucial part of the food chain, and it accounts for about 35 percent of the world’s annual production.
But it is also a key contributor to global greenhouse gas emissions, as it is used to make paints and cosmetics, to make paper and paperboard, to manufacture plastics and textiles, and to produce plastics and paper for plastics and other products.
In addition to reducing greenhouse gas pollution, palm oil is also used as a feedstock in some biofuels and biofuel-based fertilizers.
Palm trees have been grown in South Africa since the late 1990s, but production there has been reduced since the turn of the century.
In 2012, South Africa began restricting imports of palm trees, a move that was seen as a way to limit deforestation in the region.
But with prices for palm oil rising due to the increasing demand for it in the US, the country has now decided to export palm oil to its biggest export market, China.
As of today, China accounts for 70 percent of global palm oil consumption.
The United States is also expected to become a major consumer of palm oils as demand grows, with more than 200 million tons of the product imported each year.
In 2015, the United States exported $3.6 billion worth of palm-based products.
“The United States has a long-term commitment to increasing its supply of American palm oil and will continue to work with the American palm industry to support sustainable development and production,” Agriculture Secretary Tom Vilsack said in the report.
According to the USDA, the average palm oil producer in the United Kingdom is able to produce 3 million tons annually, and that number is expected increase to 2.5 million by 2040.
In the United Arab Emirates, production is expected rise to 3.3 million tons by 2041.
The Philippines is expected produce 2.3 billion tons of palm butter and 1.5 billion tons by 2030, while Indonesia is expected be able to grow to 2 million tons.
Brazil, however, is expected only to grow from 2.2 million tons to 2 billion tons per annum.
The world is also getting ready to increase production of soybeans, with Brazil and Indonesia expected to increase their soybean production by 8.4 and 5.9 million tons respectively.
But the USDA also projects that in 2030, the global soybean crop will grow to 7.5 trillion tons.
The USDA also said that the world will increase its production of rice, which will rise to more than 4 billion tons, and increase its rice production to 4.4 billion tons.
According to the report, the U.S. market for palm oils will continue growing.
Between 2020 and 2030, annual production in the U to China will grow from 1.3 to 2,200 million tons, the Philippines from 1 million to 1.6 million tons and the United Gulf States from 2 million to 3 million.
According in the USDA’s report, production in Brazil is expected jump from 2 to 5 million tons in 2030 and to 10 million tons between 2020 and 2040, and India from 3 to 7 million tons each year in 2030.
The report also projects a 10 percent increase in production in China.