Palm Kernel Oil Market - Indonesia’s Exports of Palm Kernel and Babassu Oil Increased by 18% in 2014
Vegetable And Animal Oils And Fats October 04, 2015
Indonesia continued its dominance in the global trade of palm kernel and babassu oil. In 2014, Indonesia exported 1,480 thousand tonnes of palm kernel and babassu oil totaling 1,541 million USD, 18% over the previous year. Its primary trading partner on the global palm kernel oil market was China, where it supplied 23% of its total exports of palm kernel and babassu oil in value terms, accounting for 63% of China's total imports.
From 2007 to 2014, Indonesia was a net exporter of palm kernel and babassu oil. Over this period, exports consistently exceeded imports in value terms. However, in physical terms, the difference was more pronounced.
Malaysia and Thailand were among the other main global suppliers of palm kernel and babassu oil in 2014. However, the fastest growing exporters from 2007 to 2014 were Germany (+26% per year) and Ecuador (+17% per year). The Netherlands strengthened its position in the global export structure.
In 2014, Indonesia's top 5 trading partners were China, the Netherlands, Brazil, Malaysia and India, with a combined 68% share of Indonesia's exports of palm kernel and babassu oil. The share of Brazil increased (+7 percentage points), while the share of the Netherlands illustrated negative dynamics (-10 percentage points).
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Source: World: Palm Kernel And Babassu Oil - Market Report. Analysis And Forecast To 2020
