Per capita palm oil consumption in Africa is expected to increase 40% from current levels and overall demand is expected to increase 60% to 8.2 million tons by 2030 as populations increase and become more affluent. Currently the African palm oil industry produces 2.2 million tons of palm oil annually according to the U.S. Department of Agriculture and according to Standard Chartered, the sector could produce an extra 2.8 million tons per year by 2030, more than doubling annual production. With land becoming increasingly scarce in Malaysia and Indonesia, the African industry is positioned for significant growth offering market opportunities along the value chain. At the forecasted increases in rate of consumption, only three African countries will be net palm oil exporters by 2030 with Liberia having the largest exportable surplus due to a 12- fold increase in production to 500,000 tons per year. Ivory Coast, the only current net exporter will become an importer by 2030.
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