China - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPalm Oil Price in China - 2023
Contents:
- Palm Oil Price in China (CIF) - 2023
- Palm Oil Price in China (FOB) - 2022
- Palm Oil Imports in China
- Palm Oil Exports in China
Palm Oil Price in China (CIF) - 2023
The average palm oil import price stood at $882 per ton in September 2023, growing by 4.6% against the previous month. In general, the import price, however, recorded a noticeable contraction. Over the period under review, average import prices hit record highs at $1,124 per ton in September 2022; however, from October 2022 to September 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was Indonesia ($884 per ton), while the price for Malaysia amounted to $873 per ton.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Indonesia (-1.9%).
Palm Oil Price in China (FOB) - 2022
The average palm oil export price stood at $1,349 per ton in 2022, growing by 29% against the previous year. Overall, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm oil export price increased by +91.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 37% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($3,542 per ton), while the average price for exports to Benin ($357 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.
Palm Oil Imports in China
For the third consecutive year, China recorded decline in overseas purchases of palm oil, which decreased by -22.5% to 4.9M tons in 2022. In general, imports saw a abrupt setback. The smallest decline of -1.3% was in 2021.
In value terms, palm oil imports shrank modestly to $5.8B in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +12.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44%. As a result, imports reached the peak of $5.9B, and then shrank modestly in the following year.
| Import of Palm Oil in China (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 2.9 | 2.4 | 4.3 | 4.0 | 11.3% |
| Malaysia | 1.2 | 1.7 | 1.6 | 1.9 | 16.6% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 4.1 | 4.1 | 5.9 | 5.8 | 12.3% |
Top Suppliers of Palm Oil to China in 2022:
- Indonesia (3.3M tons)
- Malaysia (1.6M tons)
Palm Oil Exports in China
In 2022, overseas shipments of palm oil increased by 8% to 17K tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a deep setback.
In value terms, palm oil exports surged to $23M in 2022. Over the period under review, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Palm Oil in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mongolia | 2.3 | 2.5 | 4.7 | 2.1 | -3.0% |
| United States | N/A | N/A | N/A | 0.3 | 0% |
| Russia | N/A | N/A | N/A | 0.1 | 0% |
| Benin | N/A | N/A | N/A | N/A | 0% |
| Hong Kong SAR | 2.9 | N/A | N/A | N/A | 0% |
| Malawi | 0.5 | N/A | N/A | N/A | 0% |
| Democratic People's Republic of Korea | 13.0 | N/A | N/A | N/A | 0% |
| United Arab Emirates | 3.3 | N/A | N/A | N/A | 0% |
| Netherlands | 0.1 | 0.1 | N/A | N/A | 0.0% |
| Others | 0.3 | 16.8 | 11.7 | 20.3 | 307.5% |
| Total | 22.3 | 19.4 | 16.4 | 22.9 | 0.9% |
Top Export Markets for Palm Oil from China in 2022:
- Russia (undefinedK tons)
- Benin (undefinedK tons)
- Mongolia (1.3K tons)
- United States (0.2K tons)
- Netherlands (0.1K tons)
This report provides an in-depth analysis of the palm oil market in China. 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 257 - Oil of palm
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- 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
-
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
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China is the largest consumer and importer of palm oil in the world. The demand for palm oil in the Chinese market has been growing rapidly due to its diverse applications in the food industry, cosmetics, and biofuels. In 2022, the import value of palm oil in China reached a staggering $5.8 billion, making it an attractive market for palm oil exporters. Before entering the Chinese market, it is crucial to understand its dynamics, regulations, and consumer preferences. Gathering reliable market intelligence can help potential exporters make informed decisions and devise successful market entry strategies. IndexBox is a reputable market intelligence platform that provides valuable data on various industries and markets, including the palm oil industry in China. Utilizing the data provided by IndexBox can offer insights into the market size, trends, competitors, and potential opportunities. Official data sources play a vital role in understanding the market and establishing credibility. The Chinese government provides extensive information regarding trade regulations, import requirements, and quality standards. Authorities such as the General Administration of Customs of China and Ministry of Commerce can guide potential exporters through the import procedures, certifications, and documentation needed for market entry. Collaborating with these authorities can facilitate a smooth entry into the Chinese market and ensure compliance with all regulations. Participating in trade shows and exhibitions is an effective way to showcase products, establish connections, and gain exposure in the Chinese market. Some of the notable trade shows and exhibitions related to the palm oil industry in China are: China International Edible Oil & Olive Oil Exhibition (CIOOE), Food Ingredients China (FIC), Shanghai International Food Exhibition (SIFE), and China International Food Processing and Packaging Machinery Exhibition (FPPE). These platforms provide opportunities to meet potential buyers, distributors, and industry professionals to expand business networks and understand the market dynamics firsthand. A successful market entry strategy for palm oil in China involves several key steps: conducting thorough market research, choosing the right distribution channel, adapting to local preferences, building relationships, complying with regulations, and promoting sustainability. By understanding the market, participating in trade shows, and adapting to local preferences, exporters can establish a strong presence and tap into the growing demand for palm oil in China.
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