India: Crude Palm Oil Market Overview 2021

Crude Palm Oil Market Size in India

The Indian crude palm oil market dropped to $X in 2019, falling 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, the total consumption indicated a prominent increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 when the market value increased by X% y-o-y. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.

Crude Palm Oil Exports

Exports from India

In 2019, after two years of decline, there was significant growth in shipments abroad of crude palm oil, when their volume increased by X% to X tonnes. Overall, exports, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2016 when exports increased by X% year-to-year. Over the period under review, exports attained the peak figure at X tonnes in 2008; however, from 2009 to 2019, exports failed to regain the momentum.

In value terms, crude palm oil exports surged to $X in 2019. Over the period under review, exports, however, recorded a relatively flat trend pattern. Exports peaked at $X in 2008; however, from 2009 to 2019, exports remained at a lower figure.

Exports by Country

Nigeria (X tonnes) was the main destination for crude palm oil exports from India, with a X% share of total exports. Moreover, crude palm oil exports to Nigeria exceeded the volume sent to the second major destination, Kenya (X tonnes), twofold.

From 2007 to 2019, the average annual rate of growth in terms of volume to Nigeria amounted to +X%.

In value terms, Nigeria ($X) emerged as the key foreign market for crude palm oil exports from India, comprising X% of total exports. The second position in the ranking was occupied by Kenya ($X), with a X% share of total exports.

From 2007 to 2019, the average annual growth rate of value to Nigeria amounted to +X%.

Export Prices by Country

In 2019, the average crude palm oil export price amounted to $X per tonne, surging by X% against the previous year. In general, the export price saw a measured expansion. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% y-o-y. The export price peaked at $X per tonne in 2013; however, from 2014 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2019, the country with the highest price was Nigeria ($X per tonne), while the average price for exports to Kenya totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Kenya.

Crude Palm Oil Imports

Imports into India

For the third consecutive year, India recorded growth in overseas purchases of crude palm oil, which increased by X% to X tonnes in 2019. Overall, total imports indicated a remarkable increase from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2016 indices. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. Over the period under review, imports hit record highs at X tonnes in 2015; however, from 2016 to 2019, imports stood at a somewhat lower figure.

In value terms, crude palm oil imports reduced to $X in 2019. Over the period under review, imports continue to indicate a temperate increase. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. Imports peaked at $X in 2012; however, from 2013 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Indonesia (X tonnes) constituted the largest crude palm oil supplier to India, accounting for a X% share of total imports. Moreover, crude palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tonnes), threefold. Singapore (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Indonesia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and Singapore (+X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of crude palm oil to India, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

From 2007 to 2019, the average annual growth rate of value from Indonesia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and Singapore (+X% per year).

Import Prices by Country

In 2019, the average crude palm oil import price amounted to $X per tonne, declining by -X% against the previous year. Over the period under review, the import price showed a mild descent. The pace of growth was the most pronounced in 2010 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per tonne in 2011; however, from 2012 to 2019, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. In 2019, the highest prices were recorded for prices from Singapore ($X per tonne) and Indonesia ($X per tonne), while the price for Thailand ($X per tonne) and Malaysia ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Indonesia, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude palm oil in the world?

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Indonesia (36M tonnes) constituted the country with the largest volume of crude palm oil consumption, accounting for 46% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia (17M tonnes), twofold. India (6.6M tonnes) ranked third in terms of total consumption with a 8.5% share.

What are the largest producers of crude palm oil in the world?

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Indonesia (44M tonnes) constituted the country with the largest volume of crude palm oil production, comprising approx. 58% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (20M tonnes), twofold. Thailand (3M tonnes) ranked third in terms of total production with a 4% share.

What are the leading suppliers of crude palm oil to India?

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In value terms, Indonesia ($2.4B) constituted the largest supplier of crude palm oil to India, comprising 66% of total imports. The second position in the ranking was occupied by Malaysia ($934M), with a 26% share of total imports. It was followed by Singapore, with a 5% share.

What are the leading importers of crude palm oil from India?

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In value terms, Nigeria ($11M) emerged as the key foreign market for crude palm oil exports from India, comprising 84% of total exports. The second position in the ranking was occupied by Kenya ($2M), with a 16% share of total exports.

What is the average export price for crude palm oil in India?

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The average crude palm oil export price stood at $1,058 per tonne in 2019, with an increase of 35% against the previous year.

What is the average import price for crude palm oil in India?

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The average crude palm oil import price stood at $537 per tonne in 2019, falling by -12.9% against the previous year.