South-Eastern Asia: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in South-Eastern Asia

In 2022, the Southeast Asian palm kernel oil market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Palm Kernel Oil Production in South-Eastern Asia

In value terms, palm kernel oil production rose slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Palm Kernel Oil Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of palm kernel and babassu oil decreased by X% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, palm kernel oil exports amounted to $X in 2022. Total exports indicated a moderate 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Indonesia represented the main exporter of palm kernel and babassu oil in South-Eastern Asia, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. Malaysia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%).

Indonesia experienced a relatively flat trend pattern with regard to volume of exports of palm kernel and babassu oil. At the same time, Thailand (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. While the share of Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Malaysia ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Thailand, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, picking up by X% against the previous year. Export price indicated a noticeable expansion 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 kernel oil export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Palm Kernel Oil Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of palm kernel and babassu oil decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a perceptible descent. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, palm kernel oil imports declined to $X in 2022. Over the period under review, imports saw a perceptible decrease. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia represented the main importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by the Philippines (X tons), committing an X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to palm kernel oil imports into Malaysia stood at X%. The Philippines experienced a relatively flat trend pattern. From 2012 to 2022, the share of the Philippines increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported palm kernel and babassu oil in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total imports.

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

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated measured 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 kernel oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia totaled $X per ton.

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

Source: IndexBox Platform

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