Belgium: Crude Palm Oil Market Overview 2021

Crude Palm Oil Market Size in Belgium

The Belgian crude palm oil market shrank to $X in 2019, waning by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted modest growth. The pace of growth was the most pronounced in 2011 when the market value increased by X% y-o-y. As a result, consumption attained the peak level of $X. From 2012 to 2019, the growth of the market failed to regain the momentum.

Crude Palm Oil Exports

Exports from Belgium

For the fourth consecutive year, Belgium recorded growth in shipments abroad of crude palm oil, which increased by X% to X tonnes in 2019. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure in 2019 and are likely to continue growth in the near future.

In value terms, crude palm oil exports surged to $X in 2019. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% y-o-y. Exports peaked in 2019 and are likely to continue growth in the near future.

Exports by Country

France (X tonnes), Germany (X tonnes) and Ireland (X tonnes) were the main destinations of crude palm oil exports from Belgium, together accounting for X% of total exports.

From 2007 to 2019, the biggest increases were in Ireland (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude palm oil exported from Belgium were France ($X), Germany ($X) and Ireland ($X), with a combined X% share of total exports.

Ireland (+X% per year) saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2019, the average crude palm oil export price amounted to $X per tonne, shrinking by -X% against the previous year. In general, the export price recorded a slight reduction. The growth pace was the most rapid in 2008 an increase of X% against the previous year. Over the period under review, average export prices attained the maximum at $X per tonne in 2011; however, from 2012 to 2019, export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2019, the country with the highest price was France ($X per tonne), while the average price for exports to Ireland ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Germany, while the prices for the other major destinations experienced a decline.

Crude Palm Oil Imports

Imports into Belgium

After two years of decline, purchases abroad of crude palm oil increased by X% to X tonnes in 2019. Over the period under review, imports enjoyed a moderate increase. The pace of growth appeared the most rapid in 2011 with an increase of X% against the previous year. Imports peaked at X tonnes in 2016; however, from 2017 to 2019, imports remained at a lower figure.

In value terms, crude palm oil imports rose slightly to $X in 2019. In general, imports continue to indicate a pronounced increase. The growth pace was the most rapid in 2011 when imports increased by X% y-o-y. As a result, imports attained the peak of $X. From 2012 to 2019, the growth imports remained at a lower figure.

Imports by Country

Indonesia (X tonnes), Malaysia (X tonnes) and the Netherlands (X tonnes) were the main suppliers of crude palm oil imports to Belgium, with a combined X% share of total imports. These countries were followed by Papua New Guinea and Guatemala, which together accounted for a further X 2007 to 2019, the biggest increases were in Guatemala, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude palm oil suppliers to Belgium were Indonesia ($X), Malaysia ($X) and the Netherlands ($X), with a combined X% share of total imports.

Indonesia saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average crude palm oil import price stood at $X per tonne in 2019, therefore, remained relatively stable against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. The import price peaked at $X per tonne in 2011; however, from 2012 to 2019, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. In 2019, the highest prices were recorded for prices from Papua New Guinea ($X per tonne) and Malaysia ($X per tonne), while the price for the Netherlands ($X per tonne) and Indonesia ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Malaysia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

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

+

The country with the largest volume of crude palm oil consumption was Indonesia (36M tonnes), accounting for 46% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia (17M tonnes), twofold. The third position in this ranking was occupied by India (6.6M tonnes), with a 8.5% share.

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

+

Indonesia (44M tonnes) remains the largest crude palm oil producing country worldwide, accounting for 58% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (20M tonnes), twofold. Thailand (3M tonnes) ranked third in terms of total production with a 4% share.

What are the leading suppliers of crude palm oil to Belgium?

+

In value terms, the largest crude palm oil suppliers to Belgium were Indonesia ($18M), Malaysia ($15M) and the Netherlands ($11M), together comprising 84% of total imports.

What are the leading importers of crude palm oil from Belgium?

+

In value terms, the largest markets for crude palm oil exported from Belgium were France ($7.8M), Germany ($6M) and Ireland ($432K), together accounting for 98% of total exports.

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

+

The average crude palm oil export price stood at $633 per tonne in 2019, falling by -15.3% against the previous year.

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

+

The average crude palm oil import price stood at $695 per tonne in 2019, approximately equating the previous year.