EU: Palm Oil Market 2024

Palm Oil Market Size in the EU

In 2022, the EU palm oil market increased by X% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Palm Oil Production in the EU

In value terms, palm oil production rose significantly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a mild decline. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Palm Oil Exports

Exports in the EU

In 2022, approx. X tons of palm oil were exported in the European Union; shrinking by X% compared with the previous year's figure. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, palm oil exports skyrocketed to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value 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, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The Netherlands represented the key exporting country with an export of about X tons, which accounted for X% of total exports. Germany (X tons) ranks second in terms of the total exports with a X% share, followed by Italy (X%), Spain (X%) and Denmark (X%). The following exporters - Belgium (X tons) and Sweden (X tons) - each recorded a X% share of total exports.

Exports from the Netherlands decreased at an average annual rate of X% from 2012 to 2022. At the same time, Sweden (X%), Italy (X%), Denmark (X%), Belgium (X%), Germany (X%) and Spain (X%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Italy, Germany, Denmark and Sweden increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands was relatively modest. In the other countries, the average annual rates were as follows: Germany (X% per year) and Italy (X% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, growing by X% against the previous year. Export price indicated measured 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, palm oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Sweden ($X per ton) and Belgium ($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 Germany (X%), while the other leaders experienced more modest paces of growth.

Palm Oil Imports

Imports in the EU

In 2022, purchases abroad of 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 continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, palm oil imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The Netherlands (X tons), Italy (X tons), Spain (X tons) and Germany (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Belgium (X tons), committing a X% share of total imports. The following importers - Poland (X tons), France (X tons) and Sweden (X tons) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Italy ($X) and Spain ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Spain, with a CAGR of X%, saw the highest growth rate of 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 the European Union amounted to $X per ton, growing by X% against the previous year. Import price indicated a perceptible 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, palm oil import 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. 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 France ($X per ton) and Poland ($X per ton), while Spain ($X per ton) and Italy ($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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