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Philippines - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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Philippines: Refined Palm Oil Market Overview 2021

Refined Palm Oil Market Size in the Philippines

The Philippine refined palm oil market rose significantly to $X in 2020, picking up by X% against the previous year. Over the period under review, the total consumption indicated mild growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the market value increased by X% year-to-year. Refined palm oil consumption peaked at $X in 2018; however, from 2019 to 2020, consumption failed to regain the momentum.

Refined Palm Oil Production in the Philippines

In value terms, refined palm oil production dropped modestly to $X in 2020 estimated in export prices. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% year-to-year. As a result, production attained the peak level of $X. From 2017 to 2020, production growth remained at a lower figure.

Refined Palm Oil Exports

Exports from the Philippines

In 2020, shipments abroad of refined palm oil increased by X% to X tonnes, rising for the third year in a row after four years of decline. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Exports peaked in 2020 and are expected to retain growth in years to come.

In value terms, refined palm oil exports surged to $X in 2020. Overall, exports posted a prominent increase. The pace of growth was the most pronounced in 2019 when exports increased by X% y-o-y. Exports peaked in 2020 and are likely to continue growth in years to come.

Exports by Country

China (X tonnes), the U.S. (X tonnes) and Canada (X tonnes) were the main destinations of refined palm oil exports from the Philippines, together accounting for X% of total exports. Pakistan, Malaysia and Germany lagged somewhat behind, together comprising a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined palm oil exported from the Philippines were the U.S. ($X), Canada ($X) and China ($X), together comprising X% of total exports. These countries were followed by Germany, Malaysia and Pakistan, which together accounted for a further X the main countries of destination, Germany (+X% per year) 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 more modest paces of growth.

Export Prices by Country

The average refined palm oil export price stood at $X per tonne in 2020, which is down by -X% against the previous year. In general, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. Over the period under review, average export prices reached the maximum at $X per tonne in 2018; however, from 2019 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per tonne), while the average price for exports to Pakistan ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Germany, while the prices for the other major destinations experienced mixed trend patterns.

Refined Palm Oil Imports

Imports into the Philippines

In 2020, the amount of refined palm oil imported into the Philippines surged to X tonnes, with an increase of X% on the previous year's figure. Overall, imports posted a notable increase. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Over the period under review, imports hit record highs in 2020 and are expected to retain growth in the near future.

In value terms, refined palm oil imports expanded to $X in 2020. Over the period under review, imports enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X% year-to-year. Over the period under review, imports reached the maximum in 2020 and are expected to retain growth in years to come.

Imports by Country

In 2020, Malaysia (X tonnes) constituted the largest supplier of refined palm oil to the Philippines, accounting for a X% share of total imports. Moreover, refined palm oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tonnes), sevenfold.

From 2007 to 2020, the average annual growth rate of volume from Malaysia totaled +X%.

In value terms, Malaysia ($X) and Indonesia ($X) appeared to be the largest refined palm oil suppliers to the Philippines, with a combined X% share of total imports.

In terms of the main suppliers, Malaysia saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2020, the average refined palm oil import price amounted to $X per tonne, waning by -X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 an increase of X% year-to-year. The import price peaked at $X per tonne in 2011; however, from 2012 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Indonesia ($X per tonne), while the price for Malaysia amounted to $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined palm oil in the world?
+
The countries with the highest volumes of refined palm oil consumption in 2020 were China (12M tonnes), the U.S. (6.5M tonnes) and India (5.2M tonnes), together accounting for 29% of global consumption. These countries were followed by Pakistan, Japan, Brazil, Russia, Indonesia, Bangladesh, Nigeria, Mexico and Turkey, which together accounted for a further 24%.
What are the largest producers of refined palm oil in the world?
+
Indonesia (13M tonnes) remains the largest refined palm oil producing country worldwide, comprising approx. 19% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, China (5.5M tonnes), twofold. The third position in this ranking was occupied by Malaysia (5.5M tonnes), with a 7.9% share.
What are the leading suppliers of refined palm oil to the Philippines?
+
In value terms, Malaysia ($110M) and Indonesia ($91M) were the largest refined palm oil suppliers to the Philippines, with a combined 99% share of total imports.
What are the leading importers of refined palm oil from the Philippines?
+
In value terms, the U.S. ($662K), Canada ($651K) and China ($256K) were the largest markets for refined palm oil exported from the Philippines worldwide, with a combined 84% share of total exports. These countries were followed by Germany, Malaysia and Pakistan, which together accounted for a further 12%.
What is the average export price for refined palm oil in the Philippines?
+
The average refined palm oil export price stood at $639 per tonne in 2020, reducing by -17.5% against the previous year.
What is the average import price for refined palm oil in the Philippines?
+
In 2020, the average refined palm oil import price amounted to $671 per tonne, waning by -16% against the previous year.

Product coverage:
• Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the refined palm oil market in the Philippines. 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 2025.


Country coverage:
• Philippines

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the Philippines
• 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
• Find deeper insights into current market developments
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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