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

Refined Palm Oil Market Size in China

In 2020, the Chinese refined palm oil market was finally on the rise to reach $X 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 most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. Over the period under review, the market attained the peak level at $X in 2011; however, from 2012 to 2020, consumption remained at a lower figure.

Refined Palm Oil Production in China

In value terms, refined palm oil production rose to $X in 2020 estimated in export prices. Overall, production posted a noticeable increase. The pace of growth was the most pronounced in 2010 when the production volume increased by X% y-o-y. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2020, production remained at a lower figure.

Refined Palm Oil Exports

Exports from China

In 2020, overseas shipments of refined palm oil decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. In general, exports, however, showed slight growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, exports hit record highs at X tonnes in 2018; however, from 2019 to 2020, exports stood at a somewhat lower figure.

In value terms, refined palm oil exports reduced to $X in 2020. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2011 with an increase of X% year-to-year. As a result, exports reached the peak of $X. From 2012 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Democratic People's Republic of Korea (X tonnes) was the main destination for refined palm oil exports from China, accounting for a X% share of total exports. Moreover, refined palm oil exports to Democratic People's Republic of Korea exceeded the volume sent to the second major destination, Hong Kong SAR (X tonnes), threefold.

From 2007 to 2020, the average annual growth rate of volume to Democratic People's Republic of Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+X% per year) and Mongolia (+X% per year).

In value terms, Democratic People's Republic of Korea ($X) emerged as the key foreign market for refined palm oil exports from China, comprising X% of total exports. The second position in the ranking was occupied by Hong Kong SAR ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to Democratic People's Republic of Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+X% per year) and Mongolia (+X% per year).

Export Prices by Country

The average refined palm oil export price stood at $X per tonne in 2020, increasing by X% against the previous year. Overall, export price indicated moderate growth from 2007 to 2020: its price 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, refined palm oil export price decreased by -X% against 2011 indices. The pace of growth appeared the most rapid in 2011 an increase of X% y-o-y. As a result, export price attained the peak level of $X per tonne. From 2012 to 2020, the growth in terms of the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2020, the country with the highest price was Hong Kong SAR ($X per tonne), while the average price for exports to Democratic People's Republic of Korea ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Mongolia, while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into China

After three years of growth, supplies from abroad of refined palm oil decreased by -X% to X tonnes in 2020. The total import volume 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 2019 when imports increased by X% year-to-year. As a result, imports reached the peak of X tonnes, and then declined in the following year.

In value terms, refined palm oil imports totaled $X in 2020. Over the period under review, total imports indicated a modest 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, imports increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2011 when imports increased by X% year-to-year. As a result, imports attained the peak of $X. From 2012 to 2020, the growth imports failed to regain the momentum.

Imports by Country

Indonesia (X tonnes) and Malaysia (X tonnes) were the main suppliers of refined palm oil imports to China, together comprising X% of total imports.

From 2007 to 2020, the biggest increases were in Indonesia.

In value terms, Indonesia ($X) and Malaysia ($X) were the largest refined palm oil suppliers to China, together accounting for X% of total imports.

Indonesia saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2020, the average refined palm oil import price amounted to $X per tonne, growing by X% against the previous year. In general, the import price, however, saw a slight contraction. The growth pace was the most rapid in 2008 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2011; however, from 2012 to 2020, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was Indonesia ($X per tonne), while the price for Malaysia stood at $X per tonne.

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

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined palm oil in the world?
+
The countries with the highest volumes of refined palm oil consumption in 2020 were China (12M tonnes), the U.S. (6.5M tonnes) and India (5.2M tonnes), with a combined 29% share of global consumption. Pakistan, Japan, Brazil, Russia, Indonesia, Bangladesh, Nigeria, Mexico and Turkey lagged somewhat behind, together accounting for a further 24%.
What are the largest producers of refined palm oil in the world?
+
The country with the largest volume of refined palm oil production was Indonesia (13M tonnes), comprising approx. 19% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, China (5.5M tonnes), twofold. The third position in this ranking was occupied by Malaysia (5.5M tonnes), with a 7.9% share.
What are the leading suppliers of refined palm oil to China?
+
In value terms, the largest refined palm oil suppliers to China were Indonesia ($2.4B) and Malaysia ($1.7B), together comprising 100% of total imports.
What are the leading importers of refined palm oil from China?
+
In value terms, Democratic People's Republic of Korea ($12M) emerged as the key foreign market for refined palm oil exports from China, comprising 64% of total exports. The second position in the ranking was occupied by Hong Kong SAR ($4.4M), with a 23% share of total exports.
What is the average export price for refined palm oil in China?
+
The average refined palm oil export price stood at $759 per tonne in 2020, picking up by 4.2% against the previous year.
What is the average import price for refined palm oil in China?
+
The average refined palm oil import price stood at $638 per tonne in 2020, growing by 17% 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 China. 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:

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in China
• 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
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
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
8. IMPORTS

The Largest Import Supplying Countries

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

The Largest Destinations for Exports

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

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 In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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