India - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIndia's Refined Palm Oil Price Sees Slight Increase, Reaches $997 per Ton
India Refined Palm Oil Import Price in November 2022
In November 2022, the refined palm oil price amounted to $997 per ton (CIF, India), leveling off at the previous month. Overall, the import price, however, recorded a noticeable descent. The pace of growth was the most pronounced in March 2022 when the average import price increased by 13% month-to-month. The import price peaked at $1,731 per ton in May 2022; however, from June 2022 to November 2022, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Nepal ($1,448 per ton), while the price for Singapore ($934 per ton) was amongst the lowest.
From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by Nepal (-1.0%), while the prices for the other major suppliers experienced a decline.
India Refined Palm Oil Imports
In November 2022, approximately 214K tons of refined palm oil were imported into India; increasing by 24% on the previous month. In general, imports enjoyed a tangible increase. The most prominent rate of growth was recorded in August 2022 when imports increased by 204% month-to-month. Imports peaked at 396K tons in September 2022; however, from October 2022 to November 2022, imports remained at a lower figure.
In value terms, refined palm oil imports surged to $214M (IndexBox estimates) in November 2022. Over the period under review, imports continue to indicate a modest increase. The most prominent rate of growth was recorded in August 2022 when imports increased by 130% against the previous month. Imports peaked at 531K tons in March 2022; however, from April 2022 to November 2022, imports remained at a lower figure.
India Refined Palm Oil Imports by Country
In November 2022, Indonesia (171K tons) constituted the largest refined palm oil supplier to India, with a 80% share of total imports. Moreover, refined palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (22K tons), eightfold. Singapore (11K tons) ranked third in terms of total imports with a 5% share.
From January 2022 to November 2022, the average monthly rate of growth in terms of volume from Indonesia amounted to +7.9%. The remaining supplying countries recorded the following average monthly rates of imports growth: Malaysia (-7.6% per month) and Singapore (-13.1% per month).
In value terms, Indonesia ($168M) constituted the largest supplier of refined palm oil to India, comprising 78% of total imports. The second position in the ranking was taken by Malaysia ($22M), with a 10% share of total imports. It was followed by Nepal, with a 5.9% share.
From January 2022 to November 2022, the average monthly rate of growth in terms of value from Indonesia stood at +4.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: Malaysia (-10.3% per month) and Nepal (-6.6% per month).
Factors Affecting Refined Palm Oil Prices
The price increase has been attributed to a surge in demand from both domestic and international buyers. The rise in demand for palm oil in the region has been driven by the growing popularity of palm oil as a cooking oil, as well as its use in the production of various food products. Additionally, the Indian government's decision to reduce import duties on palm oil has led to an increase in its import, further driving up the price of refined palm oil in the country. While this rise in price may cause concern for consumers, it presents a positive opportunity for palm oil producers and exporters. As the demand for palm oil continues to grow in India and other countries, producers have the potential to generate significant revenue and expand their operations.
This report provides an in-depth analysis of the refined palm oil market in India. 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:
- Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
