Indonesia: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Indonesia

The Indonesian crude palm oil market amounted to $X in 2022, increasing by X% against the previous year. Over the period under review, the total consumption indicated a strong 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, consumption increased by X% against 2015 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Crude Palm Oil Production in Indonesia

In value terms, crude palm oil production expanded sharply to $X in 2022 estimated in export price. The total output 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. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Crude Palm Oil Exports

Exports from Indonesia

In 2022, shipments abroad of crude palm oil was finally on the rise to reach X tons after two years of decline. In general, exports, however, recorded a abrupt shrinkage. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, crude palm oil exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for crude palm oil exports from Indonesia, with a X% share of total exports. Moreover, crude palm oil exports to India exceeded the volume sent to the second major destination, Italy (X tons), more than tenfold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Malaysia (X% per year).

In value terms, India ($X) remains the key foreign market for crude palm oil exports from Indonesia, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average crude palm oil export price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were India ($X per ton) and Italy ($X per ton), while the average price for exports to Singapore ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Palm Oil Imports

Imports into Indonesia

In 2022, supplies from abroad of crude palm oil decreased by X% to X kg, falling for the second year in a row after two years of growth. Overall, imports recorded a sharp curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, crude palm oil imports shrank notably to $X in 2022. In general, imports recorded a precipitous curtailment. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Singapore (X kg), Malaysia (X kg) and India (X kg) were the main suppliers of crude palm oil imports to Indonesia, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

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

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and India (X% per year).

Import Prices by Country

The average crude palm oil import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price posted a significant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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