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Asia - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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Asia: Refined Palm Oil Market Overview 2021

Refined Palm Oil Market Size in Asia

The Asian refined palm oil market was finally on the rise to reach $X in 2020, after two years of decline. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2017; however, from 2018 to 2020, consumption remained at a lower figure.

Refined Palm Oil Production in Asia

In value terms, refined palm oil production shrank dramatically to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2011 when the production volume increased by X% year-to-year. The level of production peaked at $X in 2016; however, from 2017 to 2020, production stood at a somewhat lower figure.

Production By Country in Asia

Indonesia (X tonnes) constituted the country with the largest volume of refined palm oil production, accounting for X% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, China (X tonnes), twofold. The third position in this ranking was occupied by Malaysia (X tonnes), with a X% share.

In Indonesia, refined 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: China (+X% per year) and Malaysia (-X% per year).

Refined Palm Oil Exports

Exports in Asia

After two years of growth, shipments abroad of refined palm oil decreased by -X% to X tonnes in 2020. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at X tonnes in 2019, and then dropped sharply in the following year.

In value terms, refined palm oil exports contracted notably to $X in 2020. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at $X in 2011; however, from 2012 to 2020, exports remained at a lower figure.

Exports by Country

Indonesia represented the largest exporting country with an export of about X tonnes, which accounted for X% of total exports. It was distantly followed by Malaysia (X tonnes), committing a X% share of total exports.

Indonesia was also the fastest-growing in terms of the refined palm oil exports, with a CAGR of +X% from 2007 to 2020. Malaysia (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Indonesia increased by +X% percentage points, while Malaysia (-X p.p.) saw their share reduced.

In value terms, Indonesia ($X) remains the largest refined palm oil supplier in Asia, comprising X% of total exports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value in Indonesia stood at +X%.

Export Prices by Country

In 2020, the refined palm oil export price in Asia amounted to $X per tonne, jumping by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2008 an increase of X% y-o-y. Over the period under review, export prices hit record highs at $X per tonne in 2011; however, from 2012 to 2020, 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 Malaysia ($X per tonne), while Indonesia totaled $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia.

Refined Palm Oil Imports

Imports in Asia

In 2020, supplies from abroad of refined palm oil decreased by -X% to X tonnes for the first time since 2016, thus ending a three-year rising trend. Total imports indicated moderate growth from 2007 to 2020: its volume 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, imports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2012 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure at X tonnes in 2019, and then dropped in the following year.

In value terms, refined palm oil imports reached $X in 2020. Total imports indicated a measured increase 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. 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 attained the peak figure at $X in 2012; however, from 2013 to 2020, imports remained at a lower figure.

Imports by Country

China was the largest importer of refined palm oil in Asia, with the volume of imports resulting at X tonnes, which was approx. X% of total imports in 2020. Pakistan (X tonnes) occupied the second position in the ranking, distantly followed by Bangladesh (X tonnes), Viet Nam (X tonnes) and Myanmar (X tonnes). All these countries together took near X% share of total imports. The following importers - Turkey (X tonnes), Japan (X tonnes), South Korea (X tonnes), Iran (X tonnes), the United Arab Emirates (X tonnes) and the Philippines (X tonnes) - together made up X% of total imports.

From 2007 to 2020, average annual rates of growth with regard to refined palm oil imports into China stood at +X%. At the same time, South Korea (+X%), Viet Nam (+X%), Bangladesh (+X%), Myanmar (+X%), Pakistan (+X%), Turkey (+X%), the Philippines (+X%), Japan (+X%) and Iran (+X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2007-2020. By contrast, the United Arab Emirates (-X%) illustrated a downward trend over the same period. Pakistan (+X p.p.), Viet Nam (+X p.p.), Bangladesh (+X p.p.), South Korea (+X p.p.) and Myanmar (+X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and China saw its share reduced by -X% and -X% from 2007 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2007 to 2020, the average annual rate of growth in terms of value in China stood at +X%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+X% per year) and Bangladesh (+X% per year).

Import Prices by Country

The refined palm oil import price in Asia stood at $X per tonne in 2020, rising by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the import price increased by X% y-o-y. As a result, import price attained 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 Japan ($X per tonne) and Myanmar ($X per tonne), while Iran ($X per tonne) and Viet Nam ($X per tonne) were amongst the lowest.

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

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined palm oil in Asia?
+
China (12M tonnes) constituted the country with the largest volume of refined palm oil consumption, comprising approx. 30% of total volume. Moreover, refined palm oil consumption in China exceeded the figures recorded by the second-largest consumer, India (5.2M tonnes), twofold. Pakistan (2.9M tonnes) ranked third in terms of total consumption with a 7.2% share.
What are the largest producers of refined palm oil in Asia?
+
Indonesia (13M tonnes) constituted the country with the largest volume of refined palm oil production, comprising approx. 34% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, China (5.5M tonnes), twofold. Malaysia (5.5M tonnes) ranked third in terms of total production with a 14% share.
What are the leading suppliers of refined palm oil in Asia?
+
In value terms, Indonesia ($7.7B) remains the largest refined palm oil supplier in Asia, comprising 66% of total exports. The second position in the ranking was occupied by Malaysia ($3.7B), with a 31% share of total exports.
What are the leading importers of refined palm oil in Asia?
+
In value terms, China ($4.1B) constitutes the largest market for imported refined palm oil in Asia, comprising 36% of total imports. The second position in the ranking was occupied by Pakistan ($2B), with a 17% share of total imports. It was followed by Bangladesh, with a 8% share.
What is the average export price for refined palm oil in Asia?
+
In 2020, the refined palm oil export price in Asia amounted to $702 per tonne, with an increase of 29% against the previous year.
What is the average import price for refined palm oil in Asia?
+
In 2020, the refined palm oil import price in Asia amounted to $639 per tonne, rising by 12% against the previous year.

Product coverage:
• Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the refined palm oil market in Asia. 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 2025.


Country coverage:
• Afghanistan
• Armenia
• Bahrain
• Bhutan
• Brunei Darussalam
• Cambodia
• China, Macao SAR
• Cyprus
• Democratic People's Republic of Korea
• Georgia
• Jordan
• Kyrgyzstan
• Lao People's Democratic Republic
• Lebanon
• Maldives
• Mongolia
• Nepal
• Palestine
• Syrian Arab Republic
• Taiwan, Chinese
• Tajikistan
• Timor-Leste
• Turkmenistan
• Yemen

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Asia, split by region and country
• Trade (exports and imports) in Asia
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Afghanistan
• Armenia
• Azerbaijan
• Bahrain
• Bangladesh
• Bhutan
• Brunei Darussalam
• Cambodia
• China
• China, Hong Kong SAR
• China, Macao SAR
• Cyprus
• Georgia
• India
• Indonesia
• Iran
• Iraq
• Israel
• Japan
• Jordan
• Kazakhstan
• Kuwait
• Kyrgyzstan
• Lebanon
• Malaysia
• Maldives
• Mongolia
• Myanmar
• Nepal
• Oman
• Pakistan
• Palestine
• Philippines
• Qatar
• Saudi Arabia
• Singapore
• South Korea
• Sri Lanka
• Syrian Arab Republic
• Taiwan, Chinese
• Tajikistan
• Thailand
• Timor-Leste
• Turkey
• Turkmenistan
• United Arab Emirates
• Uzbekistan
• Viet Nam
• Yemen
• Lao People's Democratic Republic
• Democratic People's Republic of Korea
LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption, By Country, 2015–2020
Table 5:
Production, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Physical Terms, By Country, 2007–2020
Table 7:
Imports, In Value Terms, By Country, 2007–2020
Table 8:
Import Prices, By Country Of Destination, 2007–2020
Table 9:
Exports, In Physical Terms, By Country, 2007–2020
Table 10:
Exports, In Value Terms, By Country, 2007–2020
Table 11:
Export Prices, By Country Of Origin, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Consumption, By Country, 2020
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2020
Figure 17:
Production, In Value Terms, 2007–2020
Figure 18:
Production, By Country, 2020
Figure 19:
Production, In Physical Terms, By Country, 2007–2020
Figure 20:
Imports, In Physical Terms, 2007–2020
Figure 21:
Imports, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, By Country, 2020
Figure 23:
Imports, In Physical Terms, By Country, 2007–2020
Figure 24:
Imports, In Value Terms, By Country, 2007–2020
Figure 25:
Import Prices, By Country, 2007–2020
Figure 26:
Exports, In Physical Terms, 2007–2020
Figure 27:
Exports, In Value Terms, 2007–2020
Figure 28:
Exports, In Physical Terms, By Country, 2020
Figure 29:
Exports, In Physical Terms, By Country, 2007–2020
Figure 30:
Exports, In Value Terms, By Country, 2007–2020
Figure 31:
Export Prices, 2007–2020

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