India: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in India

The Indian palm kernel oil market shrank significantly to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a perceptible slump. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Palm Kernel Oil Exports

Exports from India

In 2022, shipments abroad of palm kernel and babassu oil decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, exports, however, enjoyed modest growth. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, palm kernel oil exports dropped remarkably to $X in 2022. In general, exports, however, showed prominent growth. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Nepal (X tons), Singapore (X tons) and Bangladesh (X tons) were the main destinations of palm kernel oil exports from India, together comprising X% of total exports. Australia, the United Arab Emirates, Hong Kong SAR and Japan lagged somewhat behind, together accounting for a further X%.

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

In value terms, Singapore ($X), Nepal ($X) and Bangladesh ($X) appeared to be the largest markets for palm kernel oil exported from India worldwide, together accounting for X% of total exports. Australia, the United Arab Emirates, Hong Kong SAR and Japan lagged somewhat behind, together comprising a further X%.

Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average palm kernel oil export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price, however, saw resilient growth. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Nepal ($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 Iran (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Palm Kernel Oil Imports

Imports into India

In 2022, the amount of palm kernel and babassu oil imported into India dropped notably to X tons, shrinking by X% compared with 2021. Overall, imports saw a abrupt downturn. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, palm kernel oil imports fell significantly to $X in 2022. Over the period under review, imports recorded a perceptible slump. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest palm kernel oil supplier to India, with a X% share of total imports. Moreover, palm kernel oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Papua New Guinea (X tons), more than tenfold. The third position in this ranking was taken by Indonesia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Papua New Guinea (X% per year) and Indonesia (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of palm kernel and babassu oil to India, comprising X% of total imports. The second position in the ranking was taken by Papua New Guinea ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Papua New Guinea (X% per year) and Indonesia (X% per year).

Import Prices by Country

The average palm kernel oil import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, import price indicated a notable 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 kernel oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Liberia ($X per ton) and Papua New Guinea ($X per ton), while the price for Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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