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Australia - Palm Kernel And Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Apr 1, 2024

Australia - Palm Kernel And Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Aug 29, 2023

Australian Price for Palm Kernel Oil Decreases Slightly to $2,275 per Ton

Australia Palm Kernel Oil Import Price in June 2023

In June 2023, the palm kernel oil price stood at $2,275 per ton (CIF, Australia), dropping by -4.4% against the previous month. In general, import price indicated slight growth from June 2022 to June 2023: its price increased at an average monthly rate of +1.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, palm kernel oil import price decreased by -11.7% against February 2023 indices. The most prominent rate of growth was recorded in September 2022 when the average import price increased by 81% against the previous month. As a result, import price reached the peak level of $2,964 per ton. From October 2022 to June 2023, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In June 2023, the country with the highest price was Singapore ($2,509 per ton), while the price for Malaysia totaled $2,224 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+1.0%).

Australia Palm Kernel Oil Import Prices By Country (USD Per Ton)
COUNTRYImport Price of Palm Kernel Oil in Australia (USD per ton)
Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023
SingaporeN/A3,4063,600N/AN/A2,619N/AN/AN/A2,809N/AN/A2,509
Malaysia1,9631,6871,5932,9642,9142,4801,5761,6072,5761,6561,7592,3792,224
Average1,9631,7141,6362,9642,9152,4891,5761,6082,5761,6961,7592,3792,275

Australia Palm Kernel Oil Import Prices by Type

As there is only one major imported type of palm kernel oil, the average price level is determined by prices for vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified.

From June 2022 to June 2023, the rate of growth in terms of prices for vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified amounted to +1.2% per month.

Australia Palm Kernel Oil Imports

After two months of decline, overseas purchases of palm kernel and babassu oil increased by 1% to 264 tons in June 2023. Over the period under review, imports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in March 2023 with an increase of 360% against the previous month.

In value terms, palm kernel oil imports reduced modestly to $600K (IndexBox estimates) in June 2023. Overall, imports, however, showed a deep downturn. The growth pace was the most rapid in March 2023 with an increase of 203% m-o-m.

Australia Palm Kernel Oil Imports by Type

In June 2023, vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified (264 tons) was the main type of palm kernel oil supplied to Australia, accounting for a approximately 100% share of total imports.

From June 2022 to June 2023, the average monthly growth rate of the volume of import of vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified stood at -13.7%.

In value terms, vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified ($600K) constituted the largest type of palm kernel oil supplied to Australia.

Australia Palm Kernel Oil Imports by Country

In June 2023, Malaysia (223 tons) constituted the largest supplier of palm kernel oil to Australia, accounting for a 85% share of total imports. Moreover, palm kernel oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Singapore (40 tons), sixfold.

From June 2022 to June 2023, the average monthly growth rate of volume from Malaysia amounted to -14.9%.

In value terms, Malaysia ($496K) constituted the largest supplier of palm kernel oil to Australia, comprising 83% of total imports. The second position in the ranking was held by Singapore ($101K), with a 17% share of total imports.

From June 2022 to June 2023, the average monthly growth rate of value from Malaysia amounted to -14.0%.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the palm kernel oil market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 258 - Oil of Palm Kernel

Country coverage:

  • Australia

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Australia
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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