Report Update Apr 1, 2024

Myanmar - Refined Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Myanmar: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Myanmar

In 2022, after two years of growth, there was significant decline in the Myanmar's refined palm oil market, when its value decreased by X% to $X. Over the period under review, consumption, however, posted a noticeable expansion. Refined palm oil consumption peaked at $X in 2021, and then contracted sharply in the following year.

Refined Palm Oil Production in Myanmar

In value terms, refined palm oil production contracted significantly to $X in 2022 estimated in export price. In general, production showed a sharp decrease. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Refined Palm Oil Exports

Exports from Myanmar

After two years of decline, overseas shipments of refined palm oil decreased by X% to X kg in 2022. Over the period under review, exports faced a precipitous curtailment. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, refined palm oil exports dropped remarkably to $X in 2022. Overall, exports continue to indicate a sharp decline. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X kg) and South Korea (X kg) were the main destinations of refined palm oil exports from Myanmar. Moreover, refined palm oil exports in China exceeded the figures recorded by the second-largest exporter, South Korea, twofold.

From 2019 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%).

In value terms, China ($X) remains the key foreign market for refined palm oil exports from Myanmar, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports.

From 2019 to 2022, the average annual growth rate of value to China stood at X%.

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price, however, continues to indicate a significant increase. The export price peaked at $X per ton in 2021, and then declined sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to South Korea totaled $X per ton.

From 2019 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into Myanmar

In 2022, supplies from abroad of refined palm oil decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, refined palm oil imports contracted markedly to $X in 2022. Over the period under review, imports, however, posted a significant increase. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

In 2022, Indonesia (X tons) was the main supplier of refined palm oil to Myanmar, 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), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to X%.

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

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia amounted to X%.

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. Overall, the import price continues to indicate a relatively flat trend pattern. 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 immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined palm oil in the world?

The countries with the highest volumes of consumption in 2023 were China, the United States and India, with a combined 27% share of global consumption. Pakistan, Japan, Malaysia, Indonesia, Nigeria, Brazil, Bangladesh, the Philippines, Turkey and Ethiopia lagged somewhat behind, together accounting for a further 26%.

What are the largest producers of refined palm oil in the world?

The country with the largest volume of refined palm oil production was Indonesia, comprising approx. 34% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. The third position in this ranking was held by the United States, with a 5.4% share.

What are the leading suppliers of refined palm oil to Myanmar?

In value terms, Indonesia constituted the largest supplier of refined palm oil to Myanmar, comprising 91% of total imports. The second position in the ranking was held by Malaysia, with an 8.8% share of total imports.

What are the leading importers of refined palm oil from Myanmar?

In value terms, China $6) remains the key foreign market for refined palm oil exports from Myanmar, comprising 86% of total exports. The second position in the ranking was taken by South Korea $1), with a 14% share of total exports.

What is the average export price for refined palm oil in Myanmar?

In 2022, the average refined palm oil export price amounted to $2,333 per ton, waning by -22.2% against the previous year.

What is the average import price for refined palm oil in Myanmar?

In 2022, the average refined palm oil import price amounted to $1,341 per ton, increasing by 19% against the previous year.

This report provides an in-depth analysis of the refined palm oil market in Myanmar. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)

Country coverage:

Myanmar

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Myanmar
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023