Canada: Crude Palm Oil Market Overview 2021

Crude Palm Oil Market Size in Canada

In 2018, the Canadian crude palm oil market increased by X% to $X, rising for the eighth year in a row after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2012 when the market value increased by X% y-o-y. Over the period under review, the market attained the peak level at $X in 2019; afterwards, it flattened through to 2018.

Crude Palm Oil Production in Canada

In value terms, crude palm oil production skyrocketed to $X in 2019 estimated in export prices. Over the period under review, production showed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of X% year-to-year. Over the period under review, production hit record highs in 2019 and is likely to see gradual growth in the immediate term.

Crude Palm Oil Exports

Exports from Canada

For the eighth consecutive year, Canada recorded growth in overseas shipments of crude palm oil, which increased by X% to X tonnes in 2019. In general, exports saw significant growth. The pace of growth was the most pronounced in 2009 with an increase of X% year-to-year. Exports peaked in 2019 and are likely to see gradual growth in the near future.

In value terms, crude palm oil exports surged to $X in 2019. Overall, exports posted a significant increase. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, exports reached the maximum in 2019 and are likely to see steady growth in the immediate term.

Exports by Country

Barbados (X tonnes) and the U.S. (X tonnes) were the main destinations of crude palm oil exports from Canada.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Barbados (+X% per year).

In value terms, the U.S. ($X) emerged as the key foreign market for crude palm oil exports from Canada, comprising X% of total exports. The second position in the ranking was occupied by Barbados ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to the U.S. stood at +X%.

Export Prices by Country

The average crude palm oil export price stood at $X per tonne in 2019, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2010 an increase of X% year-to-year. Over the period under review, average export prices reached the maximum at $X per tonne in 2011; however, from 2012 to 2019, export prices failed to regain the momentum.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Barbados totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the U.S..

Crude Palm Oil Imports

Imports into Canada

Crude palm oil imports into Canada reduced slightly to X tonnes in 2019, dropping by -X% compared with 2018 figures. Over the period under review, imports showed a perceptible decrease. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X tonnes. From 2016 to 2019, the growth imports failed to regain the momentum.

In value terms, crude palm oil imports fell to $X in 2019. In general, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. As a result, imports reached the peak of $X. From 2016 to 2019, the growth imports failed to regain the momentum.

Imports by Country

In 2019, Ghana (X tonnes) constituted the largest crude palm oil supplier to Canada, with a X% share of total imports. Moreover, crude palm oil imports from Ghana exceeded the figures recorded by the second-largest supplier, the U.S. (X tonnes), fourfold. Togo (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Ghana amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (-X% per year) and Togo (+X% per year).

In value terms, Ghana ($X) constituted the largest supplier of crude palm oil to Canada, comprising X% of total imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total imports. It was followed by Togo, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Ghana stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (-X% per year) and Togo (+X% per year).

Import Prices by Country

The average crude palm oil import price stood at $X per tonne in 2019, shrinking by -X% against the previous year. Over the period under review, the import price recorded a noticeable reduction. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. The import price peaked at $X per tonne in 2008; however, from 2009 to 2019, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the highest prices were recorded for prices from Nigeria ($X per tonne) and Togo ($X per tonne), while the price for Ghana ($X per tonne) and Ecuador ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Nigeria, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

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

+

Indonesia (36M tonnes) remains the largest crude palm oil consuming country worldwide, comprising approx. 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 Canada?

+

In value terms, Ghana ($15K) constituted the largest supplier of crude palm oil to Canada, comprising 51% of total imports. The second position in the ranking was occupied by the U.S. ($3.4K), with a 12% share of total imports. It was followed by Togo, with a 10% share.

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

+

In value terms, the U.S. ($1.2M) emerged as the key foreign market for crude palm oil exports from Canada, comprising 86% of total exports. The second position in the ranking was occupied by Barbados ($198K), with a 14% share of total exports.

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

+

The average crude palm oil export price stood at $572 per tonne in 2019, rising by 28% against the previous year.

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

+

The average crude palm oil import price stood at $372 per tonne in 2019, waning by -4.1% against the previous year.