Asia: Crude Palm Oil Market Overview 2021

Crude Palm Oil Market Size in Asia

The Asian crude palm oil market skyrocketed to $X in 2020, jumping by X% against the previous year. The total consumption indicated a buoyant expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2017 indices. The pace of growth appeared the most rapid in 2011 when the market value increased by X% year-to-year. Over the period under review, the market attained the peak level in 2020 and is expected to retain growth in years to come.

Crude Palm Oil Production in Asia

In value terms, crude palm oil production skyrocketed to $X in 2020 estimated in export prices. The total production indicated prominent growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2011 when the production volume increased by X% year-to-year. Over the period under review, production attained the peak level in 2020 and is expected to retain growth in years to come.

Production By Country in Asia

The country with the largest volume of crude palm oil production was Indonesia (X tonnes), accounting for X% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (X tonnes), twofold.

In Indonesia, crude palm oil production expanded at an average annual rate of +X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Malaysia (+X% per year) and Thailand (+X% per year).

Crude Palm Oil Exports

Exports in Asia

In 2020, shipments abroad of crude palm oil decreased by -X% to X tonnes for the first time since 2016, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 when exports increased by X% year-to-year. The volume of export peaked at X tonnes in 2015; however, from 2016 to 2020, exports failed to regain the momentum.

In value terms, crude palm oil exports expanded sharply to $X in 2020. Total exports indicated a notable expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 when exports increased by X% against the previous year. Over the period under review, exports attained the maximum at $X in 2011; however, from 2012 to 2020, exports failed to regain the momentum.

Exports by Country

In 2020, Indonesia (X tonnes) represented the largest exporter of crude palm oil, mixing up X% of total exports. It was distantly followed by Malaysia (X tonnes), committing a X% share of total exports. Singapore (X tonnes) followed a long way behind the leaders.

From 2007 to 2020, the biggest increases were in Malaysia, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2020, with a combined X% share of total exports.

Malaysia recorded the highest rates of growth with regard to 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 crude palm oil export price in Asia stood at $X per tonne in 2020, with an increase of X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. As a result, export price reached the peak level of $X per tonne. From 2012 to 2020, the growth in terms of the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2020, the country with the highest price was Singapore ($X per tonne), while Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Malaysia, while the other leaders experienced more modest paces of growth.

Crude Palm Oil Imports

Imports in Asia

In 2020, approx. X tonnes of crude palm oil were imported in Asia; remaining relatively unchanged against 2019 figures. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure at X tonnes in 2011; however, from 2012 to 2020, imports remained at a lower figure.

In value terms, crude palm oil imports soared to $X in 2020. In general, imports continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2008 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2011; however, from 2012 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, India (X tonnes) was the key importer of crude palm oil, generating X% of total imports. It was distantly followed by Malaysia (X tonnes) and Saudi Arabia (X tonnes), together creating a X% share of total imports. Pakistan (X tonnes) took a little share of total imports.

Imports into India increased at an average annual rate of +X% from 2007 to 2020. At the same time, Malaysia (+X%) and Saudi Arabia (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2007-2020. By contrast, Pakistan (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of India, Malaysia and Saudi Arabia increased by +X%, +X% and +X% percentage points, while Pakistan (-X p.p.) saw their share reduced.

In value terms, India ($X) constitutes the largest market for imported crude palm oil in Asia, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value in India amounted to +X%. In the other countries, the average annual rates were as follows: Malaysia (+X% per year) and Saudi Arabia (+X% per year).

Import Prices by Country

In 2020, the crude palm oil import price in Asia amounted to $X per tonne, picking up by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 an increase of X% year-to-year. As a result, import price reached the peak level of $X per tonne. From 2012 to 2020, the growth in terms of the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2020, major importing countries recorded the following prices: in India ($X per tonne) and Pakistan ($X per tonne), while Malaysia ($X per tonne) and Saudi Arabia ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by India, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude palm oil in Asia?

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Indonesia (40M tonnes) constituted the country with the largest volume of crude palm oil consumption, comprising approx. 58% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia (17M tonnes), twofold. India (7M tonnes) ranked third in terms of total consumption with a 10% share.

What are the largest producers of crude palm oil in Asia?

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Indonesia (47M tonnes) remains the largest crude palm oil producing country in Asia, accounting for 66% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (20M tonnes), twofold.

What are the leading suppliers of crude palm oil in Asia?

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In value terms, Indonesia ($4.7B), Malaysia ($2.7B) and Singapore ($204M) constituted the countries with the highest levels of exports in 2020, with a combined 98% share of total exports.

What are the leading importers of crude palm oil in Asia?

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In value terms, India ($4.9B) constitutes the largest market for imported crude palm oil in Asia, comprising 82% of total imports. The second position in the ranking was occupied by Malaysia ($487M), with a 8.1% share of total imports. It was followed by Saudi Arabia, with a 4% share.

What is the average export price for crude palm oil in Asia?

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In 2020, the crude palm oil export price in Asia amounted to $705 per tonne, picking up by 22% against the previous year.

What is the average import price for crude palm oil in Asia?

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The crude palm oil import price in Asia stood at $675 per tonne in 2020, surging by 25% against the previous year.