Global Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size

In 2022, the global 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. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the global market remained at a lower figure.

Palm Kernel Oil Production

In value terms, palm kernel oil production stood at $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible decline. The growth pace was the most rapid in 2014 when the production volume increased by X%. Over the period under review, global production hit record highs 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 2022, overseas shipments of palm kernel and babassu oil decreased by X% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The global exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, palm kernel oil exports expanded slightly to $X in 2022. In general, total exports indicated a perceptible 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 with an increase of X% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Indonesia was the key exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Malaysia (X tons), making up a X% share of total exports. Thailand (X tons), Colombia (X tons), Papua New Guinea (X tons), Guatemala (X tons) and Honduras (X tons) followed a long way behind the leaders.

Indonesia experienced a relatively flat trend pattern with regard to volume of exports of palm kernel and babassu oil. At the same time, Guatemala (X%), Papua New Guinea (X%), Colombia (X%), Thailand (X%) and Honduras (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Guatemala increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest palm kernel oil supplying countries worldwide were Indonesia ($X), Malaysia ($X) and Thailand ($X), with a combined X% share of global exports. Colombia, Guatemala, Papua New Guinea and Honduras lagged somewhat behind, together accounting for a further X%.

Guatemala, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average palm kernel oil export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, export price indicated a measured 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 most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Honduras ($X per ton) was amongst the lowest.

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

Palm Kernel Oil Imports

Imports

In 2022, approx. X tons of palm kernel and babassu oil were imported worldwide; declining by X% compared with 2021. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Global imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, palm kernel oil imports stood at $X in 2022. In general, total imports indicated a pronounced expansion 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, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of X%. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons), followed by the United States (X tons), Germany (X tons), Malaysia (X tons), Brazil (X tons) and the Netherlands (X tons) were the main importers of palm kernel and babassu oil, together committing X% of total imports. India (X tons), Turkey (X tons), Japan (X tons), Russia (X tons), Spain (X tons), Belgium (X tons) and Italy (X tons) followed a long way behind the leaders.

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

In value terms, the largest palm kernel oil importing markets worldwide were China ($X), the United States ($X) and Germany ($X), with a combined X% share of global imports. Brazil, Malaysia, the Netherlands, Japan, Russia, Turkey, India, Belgium, Spain and Italy lagged somewhat behind, together accounting for a further X%.

Belgium, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average palm kernel oil import price stood at $X per ton in 2022, rising by X% against the previous year. In general, import price indicated a pronounced increase 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 growth pace was the most rapid in 2021 when the average import price increased by X%. Global import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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