Market Outlook
The LATAM palm oil market attained almost 4 million metric tons in 2018. The region accounts for 6% of the global production. Although its share is comparatively smaller than the 85% to 90% share of Indonesia and Malaysia, LATAM’s projected robust growth of its palm oil production will contribute to the growth of the global market in the forecast period. The global market is expected to grow at a CAGR of almost 1.9% in the forecast period of 2019-2024.
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