Israel: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Israel

The Israeli refined palm oil market stood at $X in 2022, with an increase of X% against the previous year. In general, the total consumption indicated a remarkable increase 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 2019 indices. Refined palm oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Refined Palm Oil Production in Israel

In value terms, refined palm oil production rose markedly to $X in 2022 estimated in export price. Overall, production posted strong growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Refined palm oil production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Refined Palm Oil Exports

Exports from Israel

In 2022, exports of refined palm oil from Israel declined significantly to X tons, which is down by X% against the previous year. In general, exports, however, posted prominent growth. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2021, and then declined sharply in the following year.

In value terms, refined palm oil exports dropped rapidly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

The United States (X tons) was the main destination for refined palm oil exports from Israel, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%.

In value terms, the United States ($X) also remains the key foreign market for refined palm oil exports from Israel.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest.

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, remaining constant against the previous year. In general, the export price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Refined Palm Oil Imports

Imports into Israel

In 2022, approx. X tons of refined palm oil were imported into Israel; remaining stable against 2021 figures. Overall, total imports indicated a measured increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, refined palm oil imports skyrocketed to $X in 2022. Over the period under review, imports recorded a resilient increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Singapore (X tons) constituted the largest refined palm oil supplier to Israel, accounting for a X% share of total imports. Moreover, refined palm oil imports from Singapore exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fivefold. Hong Kong SAR (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 Singapore amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Hong Kong SAR (X% per year).

In value terms, Singapore ($X) constituted the largest supplier of refined palm oil to Israel, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Singapore stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The average refined palm oil import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price saw a noticeable expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Indonesia ($X per ton) and Greece ($X per ton), while the price for Singapore ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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