EU: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in the EU

For the third consecutive year, the EU refined palm oil market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Refined Palm Oil Production in the EU

In value terms, refined palm oil production expanded markedly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production attained the peak level in 2022 and is likely to continue growth in the immediate term.

Refined Palm Oil Exports

Exports in the EU

In 2022, approx. X tons of refined palm oil were exported in the European Union; waning by X% against the previous year. Overall, exports saw 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 attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, refined palm oil exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The Netherlands represented the largest exporting country with an export of about X tons, which amounted to X% of total exports. Germany (X tons) ranks second in terms of the total exports with a X% share, followed by Italy (X%), Denmark (X%) and Spain (X%). The following exporters - Belgium (X tons) and Sweden (X tons) - each resulted at 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 Germany, Italy, Denmark, Sweden and Spain increased by X, 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 ($X) remains the largest refined palm oil supplier in the European Union, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Italy, with an X% share.

From 2012 to 2022, the average annual growth rate of value in the Netherlands amounted to X%. 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, rising by X% against the previous year. Export price indicated tangible 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 export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in years to come.

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 ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Refined Palm Oil Imports

Imports in the EU

In 2022, after two years of growth, there was significant decline in overseas purchases of refined palm oil, when their volume decreased by X% to X tons. Total imports indicated perceptible 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 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, refined palm oil imports amounted to $X in 2022. Total imports indicated a prominent expansion 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Italy (X tons) and Spain (X tons) were the key importers of refined palm oil in the European Union, together achieving X% of total imports. Germany (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Belgium (X%), the Netherlands (X%), Poland (X%) and Sweden (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined palm oil importing markets in the European Union were Italy ($X), Spain ($X) and Germany ($X), together accounting for X% of total imports.

Spain, 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

The import price in the European Union stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated a noticeable 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, refined 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. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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

Source: IndexBox Platform

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