Eastern Asia: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Eastern Asia

In 2022, after two years of decline, there was growth in the East Asian crude palm oil market, when its value increased by X% to $X. Over the period under review, consumption, however, showed a abrupt contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Crude Palm Oil Production in Eastern Asia

In value terms, crude palm oil production reached $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Crude Palm Oil Exports

Exports in Eastern Asia

In 2022, the amount of crude palm oil exported in Eastern Asia declined dramatically to X tons, waning by X% on 2021 figures. Over the period under review, exports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, crude palm oil exports fell dramatically to $X in 2022. In general, exports showed a abrupt slump. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) represented the main exporter of crude palm oil in Eastern Asia, with the volume of exports reaching X tons, which was near X% of total exports in 2022. It was distantly followed by China (X tons), achieving a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%).

In value terms, China ($X) emerged as the largest crude palm oil supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports.

In China, crude palm oil exports shrank by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price showed a noticeable setback. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then reduced sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Crude Palm Oil Imports

Imports in Eastern Asia

In 2022, purchases abroad of crude palm oil was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a precipitous decrease. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, crude palm oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a dramatic setback. The growth pace was the most rapid in 2019 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China was the major importer of crude palm oil in Eastern Asia, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. Hong Kong SAR (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%). The following importers - Taiwan (Chinese) (X tons) and Democratic People's Republic of Korea (X tons) - each reached an X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Democratic People's Republic of Korea (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X), Hong Kong SAR ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Taiwan (Chinese) and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further X%.

Democratic People's Republic of Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price showed a measured expansion. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and Hong Kong SAR ($X per ton), while Democratic People's Republic of Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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