Czech Republic: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in the Czech Republic

The Czech refined palm oil market reached $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Refined Palm Oil Production in the Czech Republic

In value terms, refined palm oil production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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Refined Palm Oil Exports

Exports from the Czech Republic

In 2022, overseas shipments of refined palm oil increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports enjoyed resilient growth. 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 hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, refined palm oil exports soared to $X in 2022. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Slovakia (X tons) was the main destination for refined palm oil exports from the Czech Republic, accounting for a X% share of total exports. Moreover, refined palm oil exports to Slovakia exceeded the volume sent to the second major destination, Poland (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Slovakia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Lithuania (X% per year).

In value terms, Slovakia ($X) remains the key foreign market for refined palm oil exports from the Czech Republic, comprising X% of total exports. The second position in the ranking was taken by Poland ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Slovakia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Lithuania (X% per year).

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price saw mild growth. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into the Czech Republic

In 2022, overseas purchases of refined palm oil were finally on the rise to reach X tons after two years of decline. Overall, imports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2016 when imports increased by X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, refined palm oil imports soared to $X in 2022. In general, imports, however, continue to indicate a perceptible shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Italy (X tons) were the main suppliers of refined palm oil imports to the Czech Republic, together accounting for X% of total imports. Poland and Austria lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Italy ($X) and the Netherlands ($X) appeared to be the largest refined palm oil suppliers to the Czech Republic, with a combined X% share of total imports. Poland and Austria lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average refined palm oil import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined palm oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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