Report Update: Apr 1, 2024

Norway - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Palm Oil Price in Norway - 2023

Palm Oil Price in Norway (CIF) - 2023

In August 2023, the average palm oil import price amounted to $2,008 per ton, remaining stable against the previous month. Overall, the import price, however, showed a slight reduction. The growth pace was the most rapid in December 2022 when the average import price increased by 7.7% m-o-m. The import price peaked at $2,295 per ton in September 2022; however, from October 2022 to August 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In August 2023, the country with the highest price was Denmark ($2,384 per ton), while the price for Sweden totaled $1,985 per ton.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.1%), while the prices for the other major suppliers experienced a decline.

Palm Oil Price in Norway (FOB) - 2022

The average palm oil export price stood at $13,994 per ton in 2022, rising by 1,164% against the previous year. In general, the export price recorded a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($14,364 per ton), while the average price for exports to Sweden amounted to $8,661 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+45.1%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Oil Imports in Norway

In 2022, palm oil imports into Norway skyrocketed to 2K tons, surging by 16% against 2021. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, palm oil imports skyrocketed to $4.2M in 2022. Over the period under review, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Palm Oil in Norway (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	3.7	0.9	95.2	2,055	722.0%
Sweden	934	841	1,528	1,752	23.3%
Malaysia	369	731	741	215	-16.5%
Denmark	33.5	32.3	80.7	128	56.3%
Germany	55.3	83.6	69.9	13.4	-37.7%
Indonesia	644	30.5	10.0	N/A	-87.5%
Others	9.8	30.2	143	57.0	79.8%
Total	2,049	1,749	2,667	4,220	27.2%

Top Suppliers of Palm Oil to Norway in 2022:

Sweden (892.0 tons)
Netherlands (861.8 tons)
Malaysia (121.3 tons)
Denmark (67.9 tons)
Germany (4.8 tons)

Palm Oil Exports in Norway

In 2022, the amount of palm oil exported from Norway fell notably to 5.8 tons, with a decrease of -98.4% against 2021 figures. Over the period under review, exports faced a significant decline. The pace of growth appeared the most rapid in 2021 with an increase of 135%. As a result, the exports reached the peak of 367 tons, and then shrank sharply in the following year.

In value terms, palm oil exports declined sharply to $81K in 2022. Overall, exports faced a precipitous contraction. The most prominent rate of growth was recorded in 2021 with an increase of 133%. As a result, the exports attained the peak of $406K, and then declined dramatically in the following year.

Export of Palm Oil in Norway (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Denmark	N/A	N/A	0.2	78.2	39000.0%
Sweden	1.9	2.2	2.5	3.3	20.2%
Iceland	241	172	403	N/A	29.3%
Others	N/A	N/A	N/A	N/A	0%
Total	243	175	406	81.5	-30.5%

Top Export Markets for Palm Oil from Norway in 2022:

Denmark (5.4 tons)
Sweden (0.4 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the palm oil market in Norway. 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:

Norway

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Norway
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
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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.

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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
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
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