India: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in India

In 2022, the Indian refined palm oil market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption enjoyed a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Refined Palm Oil Production in India

In value terms, refined palm oil production surged to $X in 2022 estimated in export price. Overall, production saw significant growth. The growth pace was the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Refined Palm Oil Exports

Exports from India

After three years of growth, shipments abroad of refined palm oil decreased by X% to X tons in 2022. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then declined rapidly in the following year.

In value terms, refined palm oil exports declined notably to $X in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then dropped markedly in the following year.

Exports by Country

Nepal (X tons) was the main destination for refined palm oil exports from India, accounting for a X% share of total exports. Moreover, refined palm oil exports to Nepal exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by Bhutan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Nepal stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Bhutan (X% per year).

In value terms, Nepal ($X) emerged as the key foreign market for refined palm oil exports from India, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Bhutan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Nepal amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Bhutan (X% per year).

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

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

Refined Palm Oil Imports

Imports into India

In 2022, the amount of refined palm oil imported into India skyrocketed to X tons, jumping by X% compared with 2021. In general, imports posted a measured increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, refined palm oil imports skyrocketed to $X in 2022. Over the period under review, imports showed resilient growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of refined palm oil to India, accounting for a X% share of total imports. Moreover, refined palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. Nepal (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Nepal (X% per year).

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

From 2012 to 2022, 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 Nepal (X% per year).

Import Prices by Country

The average refined palm oil import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price saw a modest expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :