EU: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in the EU

The EU crude palm oil market expanded modestly to $X in 2022, with an increase of X% against the previous year. In general, consumption continues to indicate a noticeable slump. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Crude Palm Oil Production in the EU

In value terms, crude palm oil production expanded significantly to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Crude Palm Oil Exports

Exports in the EU

In 2022, overseas shipments of crude palm oil decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Total exports indicated prominent growth from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, crude palm oil exports expanded remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The Netherlands dominates exports structure, recording X tons, which was near X% of total exports in 2022. Spain (X tons) and Belgium (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to crude palm oil exports from the Netherlands stood at X%. At the same time, Belgium (X%) and Spain (X%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. The Netherlands (X p.p.) and Belgium (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest crude palm oil supplier in the European Union, comprising X% of total exports. The second position in the ranking was taken by Spain ($X), with a X% share of total exports.

In the Netherlands, crude palm oil exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Spain (X% per year) and Belgium (X% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, with an increase of X% against the previous year. Export price indicated slight 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, crude palm oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while Belgium ($X per ton) was amongst the lowest.

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

Crude Palm Oil Imports

Imports in the EU

In 2022, overseas purchases of crude palm oil decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, crude palm oil imports expanded sharply to $X in 2022. In general, imports saw a noticeable setback. The pace of growth was the most pronounced in 2019 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands represented the main importer of crude palm oil in the European Union, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Germany (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Italy (X%) and Spain (X%). France (X tons), Belgium (X tons) and Ireland (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crude palm oil imports into the Netherlands stood at X%. At the same time, Belgium (X%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the European Union, with a CAGR of X% from 2012-2022. Ireland and France experienced a relatively flat trend pattern. By contrast, Spain (X%), Italy (X%) and Germany (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Spain increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported crude palm oil in the European Union, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

In the Netherlands, crude palm oil imports contracted by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (X% per year) and Spain (X% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated a tangible increase 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, crude palm oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Ireland ($X per ton) and France ($X per ton), while Italy ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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