Palm Oil Market

Palm oil market: discover new information featured by an Ai-driven business intelligence tool. Information cover consumption, imports, exports, companies, market size, production, trade, and market prices. Here is a split by country, including China, Russia, the U.S., the Middle East, Africa, Latin America, the U.K., and EU. Market dynamics and outlook to 2030 are also provided in the dashboards.


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Palm Oil - World's Largest Markets

RatingCountry
1Indonesia
2India
3China
4Malaysia
5Thailand

In value terms, Indonesia led the market, alone. The second position in the ranking was occupied by India. It was followed by China.

From 2018 to 2020, the average annual growth rate of value in Indonesia totaled +32.4%. In the other countries, the average annual rates were as follows: India (+10.3% per year) and China (+12.6% per year).

Palm Oil Prices

Lowest Prices - FOB - Top Exporters

COUNTRY201820192020CAGR,
2018-2020
USD per tonne
Guatemala652571629-1.8%
Indonesia5935536706.3%
Malaysia6495486731.8%
Netherlands857745837-1.2%
Average6325706874.3%

Average prices varied somewhat amongst the major exporting countries. In 2020, major exporting countries recorded the following prices: in the Netherlands ($837 per tonne) and Malaysia ($673 per tonne), while Guatemala ($629 per tonne) and Indonesia ($670 per tonne) were amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia, while the other global leaders experienced mixed trends in the export price figures.

Highest Prices - CIF - Top Importers

COUNTRY201820192020CAGR,
2018-2020
USD per tonne
Russia7066307744.7%
Italy7306837420.8%
Malaysia6996127261.9%
Kenya6615697264.8%
United States736644719-1.2%
Spain6845837152.2%
India6165377077.1%
Netherlands6715997062.6%
Pakistan6515546842.5%
Philippines6775416820.4%
Egypt6635946720.7%
Bangladesh6005266635.1%
China637544544-7.6%
Average6865986920.5%

Average prices varied somewhat amongst the major importing countries. In 2020, major importing countries recorded the following prices: in Russia ($774 per tonne) and Italy ($742 per tonne), while China ($544 per tonne) and Bangladesh ($663 per tonne) were amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by India, while the other global leaders experienced more modest paces of growth.

Palm Oil - Top Importers

COUNTRY201820192020CAGR,
2018-2020
billion USD
India43.65.112.6%
China3.44.14.19.7%
Pakistan1.91.82.14.5%
Netherlands1.91.71.8-4.0%
Spain1.31.31.42.8%

In value terms, India ($5.1B), China ($4.1B) and Pakistan ($2.1B) constituted the countries with the highest levels of imports in 2020, together comprising 33% of global imports. The Netherlands, Spain, Italy, the United States, Bangladesh, Kenya, Russia, the Philippines, Egypt and Malaysia lagged somewhat behind, together accounting for a further 30%.

The Philippines (+101.4% per year) saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Palm Oil - Top Exporters

COUNTRY201820192020CAGR,
2018-2020
billion USD
Indonesia1716172.5%
Malaysia9.68.39.81.1%
Netherlands10.91.14.6%
Guatemala0.50.40.50.5%

In value terms, the largest palm oil supplying countries worldwide were Indonesia ($17.4B), Malaysia ($9.8B) and the Netherlands ($1.1B), with a combined 87% share of global exports.

The Netherlands recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Palm Oil - Market Forecast

Driven by increasing demand for palm oil worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.

Palm Oil - Product Coverage

  • HS 151110 - Vegetable oils; palm oil and its fractions, crude, not chemically modified
  • HS 151190 - Vegetable oils; palm oil and its fractions, other than crude, whether or not refined, but not chemically modified
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Africa - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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Eastern Asia - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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Northern America - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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South-Eastern Asia - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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This report provides an in-depth analysis of the palm oil market in South-Eastern Asia.

Southern Asia - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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This report provides an in-depth analysis of the palm oil market in Southern Asia.

Latin America and the Caribbean - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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This report provides an in-depth analysis of the palm oil market in Latin America and the Caribbean.

Central Asia - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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Middle East - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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This report provides an in-depth analysis of the palm oil market in the Middle East.

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