United Kingdom: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in the UK

In 2022, the UK refined palm oil market decreased by X% to $X, falling for the third consecutive year after three years of growth. Overall, consumption continues to indicate a slight shrinkage. Refined palm oil consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Refined Palm Oil Production in the UK

In value terms, refined palm oil production amounted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Refined Palm Oil Exports

Exports from the UK

In 2022, the amount of refined palm oil exported from the UK surged to X tons, rising by X% on 2021 figures. In general, exports, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, refined palm oil exports surged to $X in 2022. Overall, exports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ireland (X tons) was the main destination for refined palm oil exports from the UK, with a X% share of total exports. Moreover, refined palm oil exports to Ireland exceeded the volume sent to the second major destination, the Netherlands (X tons), eightfold. The third position in this ranking was held by France (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and France (X% per year).

In value terms, Ireland ($X) remains the key foreign market for refined palm oil exports from the UK, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and France (X% per year).

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Ireland ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into the UK

In 2022, purchases abroad of refined palm oil decreased by X% to X tons, falling for the third consecutive year after four years of growth. In general, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, refined palm oil imports soared to $X in 2022. Over the period under review, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X tons), Germany (X tons) and Malaysia (X tons) were the main suppliers of refined palm oil imports to the UK, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

Among the main suppliers, Germany, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined palm oil import price amounted to $X per ton, increasing by X% against the previous year. Overall, the import price enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Germany ($X per ton), while the price for Papua New Guinea ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :