According to a preliminary estimate by the United States Department of Agriculture (USDA), palm oil will remain the world’s most important vegetable oil in terms of both production and consumption. Its global production will reach a record level of 81.4 million tons. This is 90,000 tons more than in 2025/26. Indonesia will remain the largest producer with 47.5 million tons, followed by Malaysia with 19.6 million tons and Thailand with 3.7 million tons.
Soybean oil production will also increase in the next fiscal year. This commodity is expected to see the largest increase of 2.9 million tons to 74.7 million tons. China remains the largest soybean processor and major soybean oil producer with production of 21.4 million tons, followed by the United States at just over 14.8 million tons.
Rapeseed oil production for the 2026/27 season is expected to reach 37.2 million tons, up 2.7 million tons from the current season. Sunflower oil production is projected to increase by about 2.6 million tons to 23.5 million tons, mainly due to increased production in Ukraine, Russia and EU countries.
It is estimated that between 5% and 10% of global vegetable oil production can be recycled as waste oil. Thus, the total volume of oil suitable for processing in the world is only about 12-24 million tons.
