Italy: Palm Oil Market 2024

Palm Oil Market Size in Italy

In 2022, the Italian palm oil market increased by X% to $X, rising for the fourth consecutive year after four years of decline. In general, the total consumption indicated a prominent 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 2018 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Palm Oil Production in Italy

In value terms, palm oil production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production posted significant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level in 2022 and is expected to retain growth in years to come.

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Palm Oil Exports

Exports from Italy

In 2022, palm oil exports from Italy expanded notably to X tons, increasing by X% on the year before. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, palm oil exports soared to $X in 2022. In general, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for palm oil exports from Italy, with a X% share of total exports. Moreover, palm oil exports to Germany exceeded the volume sent to the second major destination, Poland (X tons), twofold. Serbia (X tons) ranked third in terms of total exports with a X% share.

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

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

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

Export Prices by Country

In 2022, the average palm oil export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to France ($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 Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Oil Imports

Imports into Italy

In 2022, supplies from abroad of palm oil decreased by X% to X tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, palm oil imports soared to $X in 2022. In general, total imports indicated a resilient 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest palm oil supplier to Italy, with a X% share of total imports. Moreover, palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. Honduras (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 was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Honduras (X% per year).

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

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

Import Prices by Country

The average palm oil import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, import price indicated pronounced growth from 2012 to 2022: its price 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, palm oil import price increased by X% against 2019 indices. 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 years to come.

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

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

Source: IndexBox Platform

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