Romania: Palm Kernel Oil Market Overview 2021

Palm Kernel Oil Market Size in Romania

After three years of growth, the Romanian palm kernel oil market decreased by -X% to $X in 2019. In general, consumption, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2011 when the market value increased by X% y-o-y. Over the period under review, the market attained the maximum level at $X in 2018, and then declined dramatically in the following year.

Palm Kernel Oil Exports

Exports from Romania

Palm kernel oil exports from Romania contracted rapidly to X kg in 2019, waning by -X% compared with the previous year. Over the period under review, exports saw a dramatic setback. The growth pace was the most rapid in 2014 with an increase of X% y-o-y. Over the period under review, exports hit record highs at X tonnes in 2007; however, from 2008 to 2019, exports remained at a lower figure.

In value terms, palm kernel oil exports shrank modestly to $X in 2019. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2011 when exports increased by X% against the previous year. Over the period under review, exports reached the peak figure at $X in 2007; however, from 2008 to 2019, exports remained at a lower figure.

Exports by Country

Switzerland (X kg) was the main destination for palm kernel oil exports from Romania, with a approx. X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of volume to Switzerland totaled -X%.

In value terms, Switzerland ($X) also remains the key foreign market for palm kernel oil exports from Romania.

From 2007 to 2019, the average annual growth rate of value to Switzerland stood at -X%.

Export Prices by Country

In 2019, the average palm kernel oil export price amounted to $X per tonne, with an increase of X% against the previous year. Overall, the export price showed buoyant growth. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The export price peaked in 2019 and is likely to continue growth in years to come.

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

From 2007 to 2019, the rate of growth in terms of prices for Switzerland amounted to +X% per year.

Palm Kernel Oil Imports

Imports into Romania

In 2019, after three years of growth, there was significant decline in purchases abroad of palm kernel and babassu oil, when their volume decreased by -X% to X tonnes. In general, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Over the period under review, imports hit record highs at X tonnes in 2018, and then reduced in the following year.

In value terms, palm kernel oil imports shrank significantly to $X in 2019. Overall, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2011 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018, and then shrank remarkably in the following year.

Imports by Country

Sweden (X tonnes), Bulgaria (X tonnes) and Belgium (X tonnes) were the main suppliers of palm kernel oil imports to Romania, together comprising X% of total imports. These countries were followed by Germany, Malaysia, the Netherlands and Croatia, which together accounted for a further X 2007 to 2019, the biggest increases were in Germany, while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Belgium ($X) and Germany ($X) appeared to be the largest palm kernel oil suppliers to Romania, with a combined X% share of total imports.

Germany saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average palm kernel oil import price stood at $X per tonne in 2019, which is down by -X% against the previous year. Overall, import price indicated noticeable growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 an increase of X% year-to-year. Over the period under review, average import prices reached the maximum at $X per tonne in 2012; however, from 2013 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Germany ($X per tonne), while the price for Bulgaria ($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 kernel and babassu oil in the world?

+

The countries with the highest volumes of palm kernel oil consumption in 2019 were Indonesia (2.8M tonnes), Malaysia (1.9M tonnes) and China (802K tonnes), with a combined 66% share of global consumption.

What are the largest producers of palm kernel and babassu oil in the world?

+

Indonesia (4.7M tonnes) remains the largest palm kernel oil producing country worldwide, comprising approx. 56% of total volume. Moreover, palm kernel oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (2.3M tonnes), twofold. The third position in this ranking was occupied by Thailand (276K tonnes), with a 3.3% share.

What are the leading suppliers of palm kernel and babassu oil to Romania?

+

In value terms, Sweden ($120K), Belgium ($119K) and Germany ($73K) constituted the largest palm kernel oil suppliers to Romania, with a combined 55% share of total imports.

What are the leading importers of palm kernel and babassu oil from Romania?

+

In value terms, Switzerland ($1.1K) remains the key foreign market for palm kernel oil exports from Romania.

What is the average export price for palm kernel and babassu oil in Romania?

+

In 2019, the average palm kernel oil export price amounted to $4,903 per tonne, surging by 59% against the previous year.

What is the average import price for palm kernel and babassu oil in Romania?

+

The average palm kernel oil import price stood at $1,696 per tonne in 2019, falling by -6.7% against the previous year.