Asia: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in Asia

In 2022, the Asian palm kernel oil market increased by X% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Palm Kernel Oil Production in Asia

In value terms, palm kernel oil production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced setback. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Palm Kernel Oil Exports

Exports in Asia

In 2022, overseas shipments of palm kernel and babassu oil decreased by X% to X tons, falling for the third year in a row after three years of growth. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, palm kernel oil exports totaled $X in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Indonesia was the largest exporter of palm kernel and babassu oil in Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Malaysia (X tons) and Thailand (X tons), together making up a X% share of total exports.

Indonesia experienced a relatively flat trend pattern with regard to volume of exports of palm kernel and babassu oil. At the same time, Thailand (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest palm kernel oil supplying countries in Asia were Indonesia ($X), Malaysia ($X) and Thailand ($X), with a combined X% share of total exports.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm kernel oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Palm Kernel Oil Imports

Imports in Asia

In 2022, imports of palm kernel and babassu oil in Asia dropped dramatically to X tons, falling by X% on 2021 figures. In general, imports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, palm kernel oil imports dropped modestly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell slightly in the following year.

Imports by Country

In 2022, China (X tons) represented the main importer of palm kernel and babassu oil, comprising X% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a X% share, followed by India (X%), Turkey (X%) and Japan (X%). The Philippines (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported palm kernel and babassu oil in Asia, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, jumping by X% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm kernel oil import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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