Canada: Crude Palm Oil Market 2022

Crude Palm Oil Market Size in Canada

In 2021, the Canadian crude palm oil market decreased by -X% to $X, falling for the second year in a row after three years of growth. In general, consumption saw a pronounced decline. Crude palm oil consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Crude Palm Oil Exports

Exports from Canada

For the ninth consecutive year, Canada recorded decline in shipments abroad of crude palm oil, which decreased by -X% to X tons in 2021. Over the period under review, exports continue to indicate a dramatic contraction. The smallest decline of -X% was in 2020. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, crude palm oil exports shrank to $X in 2021. In general, exports saw a sharp curtailment. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Barbados (X tons) was the main destination for crude palm oil exports from Canada, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Barbados amounted to -X%.

In value terms, Barbados ($X) also remains the key foreign market for crude palm oil exports from Canada.

From 2012 to 2021, the average annual growth rate of value to Barbados stood at -X%.

Export Prices by Country

The average crude palm oil export price stood at $X per ton in 2021, surging by X% against the previous year. In general, the export price, however, saw a mild shrinkage. The pace of growth appeared the most rapid in 2017 an increase of X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Barbados.

From 2012 to 2021, the rate of growth in terms of prices for Barbados amounted to +X% per year.

Crude Palm Oil Imports

Imports into Canada

For the sixth year in a row, Canada recorded decline in purchases abroad of crude palm oil, which decreased by -X% to X tons in 2021. Overall, imports recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, crude palm oil imports declined to $X in 2021. In general, imports recorded a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Ghana (X tons) constituted the largest supplier of crude palm oil 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, Cameroon (X tons), fivefold. The third position in this ranking was held by Nigeria (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Ghana stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Cameroon (-X% per year) and Nigeria (+X% per year).

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

From 2012 to 2021, the average annual growth rate of value from Ghana totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Cameroon (-X% per year) and Nigeria (+X% per year).

Import Prices by Country

The average crude palm oil import price stood at $X per ton in 2021, which is down by -X% against the previous year. Overall, the import price recorded a abrupt downturn. The growth pace was the most rapid in 2016 a decrease of -X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from the United States ($X per ton) and Malaysia ($X per ton), while the price for Nigeria ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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