Indonesia Reduced Its Exports of Palm Oil by 10% to $15.8B

Vegetable And Animal Oils And Fats June 24, 2015
Author: Svetlana Sitkova
Head of Industrial Research Department

Despite some recent negative dynamics, Indonesia continued to lead the way in the global palm oil trade. In 2013, Indonesia exported 20.6 million tonnes of palm oil totaling 15.8 billion USD, 10% under the previous year. Its primary trading partner was India, where it supplied 27% of its total palm oil exports in value terms, accounting for 62% of India's total imports.

Overall, the global palm oil trade dropped to 32.7 billion USD, with a CAGR of 9.5% from 2007 to 2013. In physical terms, it showed steady growth, rising from 27.1 million tonnes in 2007 to 43.5 million tonnes in 2013.

In 2013, India (20.7%), China (14.6%), the Netherlands (7.6%) and Pakistan (5.5%) were the leading destinations of palm oil imports, together making up 48.4% of global imports. The share of India increased significantly (+12 percentage points), while the share of China illustrated negative dynamics (-7 percentage points).

Indonesia and Malaysia were the main global suppliers of palm oil in 2013, with a combined share of 86.0% of global exports. However, the fastest growing exporters from 2007 to 2013 were Guatemala (+21.7% per year) and Germany (+16.9% per year). Indonesia strengthened its position in the global export structure, from 41% in 2007 to 48% in 2013.

Source: World: Palm Oil - Market Report. Analysis And Forecast To 2020