Kuwait - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Palm Oil Price in Kuwait - 2021
Contents:
- Refined Palm Oil Price in Kuwait (CIF) - 2021
- Refined Palm Oil Price in Kuwait (FOB) - 2022
- Refined Palm Oil Imports in Kuwait
- Refined Palm Oil Exports in Kuwait
Refined Palm Oil Price in Kuwait (CIF) - 2021
The average refined palm oil import price stood at $1,486 per ton in December 2021, rising by 7.2% against the previous month. Over the period under review, import price indicated a perceptible expansion from January 2021 to December 2021: its price increased at an average monthly rate of +3.1% over the last eleven-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2021 figures, refined palm oil import price increased by +80.3% against August 2021 indices. The most prominent rate of growth was recorded in October 2021 when the average import price increased by 60% month-to-month. Over the period under review, average import prices attained the maximum in December 2021.
There were significant differences in the average prices amongst the major supplying countries. In December 2021, the country with the highest price was Saudi Arabia ($2,112 per ton), while the price for Malaysia ($1,392 per ton) was amongst the lowest.
From January 2021 to December 2021, the most notable rate of growth in terms of prices was attained by Oman (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Refined Palm Oil Price in Kuwait (FOB) - 2022
The average refined palm oil export price stood at $618 per ton in 2022, leveling off at the previous year. In general, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 when the average export price increased by 17%. The export price peaked at $2,383 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($8,743 per ton), while the average price for exports to the Netherlands ($598 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 Iraq (+9.2%), while the prices for the other major destinations experienced a decline.
Refined Palm Oil Imports in Kuwait
In 2022, approx. 23K tons of refined palm oil were imported into Kuwait; reducing by -8.7% compared with the previous year. Over the period under review, imports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by 21%.
In value terms, refined palm oil imports fell sharply to $23M in 2022. Overall, total imports indicated a tangible expansion from 2019 to 2022: its value increased at an average annual rate of +4.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 57%. As a result, imports reached the peak of $28M, and then dropped markedly in the following year.
| Import of Refined Palm Oil in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 17.2 | 14.9 | 11.6 | 7.9 | -22.8% |
| United Arab Emirates | 2.6 | 1.9 | 1.1 | 0.8 | -32.5% |
| Indonesia | 0.5 | 0.4 | 0.5 | 0.3 | -15.7% |
| Others | 0.5 | 0.8 | 15.4 | 14.3 | 205.8% |
| Total | 20.7 | 18.1 | 28.5 | 23.3 | 4.0% |
Top Suppliers of Refined Palm Oil to Kuwait in 2022:
- Malaysia (7.9K tons)
- United Arab Emirates (0.9K tons)
- Indonesia (0.3K tons)
Refined Palm Oil Exports in Kuwait
After three years of growth, shipments abroad of refined palm oil decreased by -26.6% to 355 tons in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 597% against the previous year.
In value terms, refined palm oil exports declined markedly to $220K in 2022. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 467%.
| Export of Refined Palm Oil in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 17.3 | 108 | 271 | 196 | 124.6% |
| Saudi Arabia | 5.0 | 19.4 | 28.8 | 21.4 | 62.4% |
| Others | 1.6 | 8.5 | 3.8 | 2.2 | 11.2% |
| Total | 23.9 | 136 | 303 | 220 | 109.6% |
Top Export Markets for Refined Palm Oil from Kuwait in 2022:
- Netherlands (327.5 tons)
- Saudi Arabia (27.7 tons)
This report provides an in-depth analysis of the refined palm oil market in Kuwait. 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:
- Kuwait
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Kuwait
- 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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