Ireland: Palm Kernel Market Overview 2021

Palm Kernel Market Size in Ireland

The Irish palm kernel market soared to $X in 2019, growing 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). In general, consumption, however, continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2007; however, from 2008 to 2019, consumption failed to regain the momentum.

Palm Kernel Exports

Exports from Ireland

In 2019, overseas shipments of palm kernels decreased by -X% to X tonnes, falling for the fourth consecutive year after four years of growth. Overall, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2015 with an increase of X% y-o-y. As a result, exports attained the peak of X tonnes. From 2016 to 2019, the growth exports remained at a lower figure.

In value terms, palm kernel exports contracted significantly to $X in 2019. In general, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of X% year-to-year. As a result, exports reached the peak of $X. From 2016 to 2019, the growth exports failed to regain the momentum.

Exports by Country

The UK (X tonnes), Denmark (X tonnes) and Spain (X kg) were the main destinations of palm kernel exports from Ireland, with a combined X% share of total exports.

From 2007 to 2019, the biggest increases were in Denmark (+X% per year), while shipments for the other leaders experienced a decline.

In value terms, the UK ($X), Denmark ($X) and Spain ($X) appeared to be the largest markets for palm kernel exported from Ireland worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Denmark saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2019, the average palm kernel export price amounted to $X per tonne, picking up by X% against the previous year. In general, export price indicated a measured expansion from 2007 to 2019: its price 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, palm kernel export price increased by +X% against 2015 indices. As a result, export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2019, the country with the highest price was the UK ($X per tonne), while the average price for exports to Denmark ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Spain, while the prices for the other major destinations experienced a decline.

Palm Kernel Imports

Imports into Ireland

In 2019, imports of palm kernels into Ireland soared to X tonnes, increasing by X% against the previous year. Over the period under review, imports, however, recorded a deep setback. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. Imports peaked at X tonnes in 2007; however, from 2008 to 2019, imports remained at a lower figure.

In value terms, palm kernel imports skyrocketed to $X in 2019. In general, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2011 when imports increased by X% against the previous year. Imports peaked at $X in 2007; however, from 2008 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, the UK (X tonnes) constituted the largest supplier of palm kernel to Ireland, accounting for a X% share of total imports. Moreover, palm kernel imports from the UK exceeded the figures recorded by the second-largest supplier, New Zealand (X tonnes), threefold. The Netherlands (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from the UK totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-X% per year) and the Netherlands (-X% per year).

In value terms, the UK ($X) constituted the largest supplier of palm kernel to Ireland, comprising X% of total imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of total imports. It was followed by New Zealand, with a X% share.

From 2007 to 2019, the average annual growth rate of value from the UK amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-X% per year) and New Zealand (-X% per year).

Import Prices by Country

The average palm kernel import price stood at $X per tonne in 2019, shrinking by -X% against the previous year. In general, the import price, however, enjoyed noticeable growth. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% year-to-year. Over the period under review, average import prices attained the peak figure at $X per tonne in 2010; however, from 2011 to 2019, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the Netherlands ($X per tonne), while the price for New Zealand ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the Netherlands, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for palm kernels in the world?

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The countries with the highest volumes of palm kernel consumption in 2019 were India (8.1K tonnes), the U.S. (5.2K tonnes) and Spain (4.8K tonnes), with a combined 38% share of global consumption. Viet Nam, Germany, Turkey, Egypt, the Netherlands, Saudi Arabia, Japan, South Korea, New Zealand and Taiwan (Chinese) lagged somewhat behind, together comprising a further 27%.

What are the largest producers of palm kernels in the world?

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The countries with the highest volumes of palm kernel production in 2019 were India (10K tonnes), the U.S. (5.5K tonnes) and Thailand (4.8K tonnes), with a combined 52% share of global production. Austria, Egypt, New Zealand, Chile, Denmark, Peru, Myanmar, Indonesia, China and Afghanistan lagged somewhat behind, together comprising a further 33%.

What are the leading suppliers of palm kernels to Ireland?

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In value terms, the UK ($822K) constituted the largest supplier of palm kernel to Ireland, comprising 68% of total imports. The second position in the ranking was occupied by the Netherlands ($176K), with a 15% share of total imports. It was followed by New Zealand, with a 13% share.

What are the leading importers of palm kernels from Ireland?

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In value terms, the UK ($24K), Denmark ($16K) and Spain ($1.6K) were the largest markets for palm kernel exported from Ireland worldwide, with a combined 97% share of total exports.

What is the average export price for palm kernels in Ireland?

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In 2019, the average palm kernel export price amounted to $6,948 per tonne, picking up by 30% against the previous year.

What is the average import price for palm kernels in Ireland?

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The average palm kernel import price stood at $5,621 per tonne in 2019, dropping by -15% against the previous year.