ASEAN: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in ASEAN

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

Palm Kernel Oil Production in ASEAN

In value terms, palm kernel oil production rose to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Palm Kernel Oil Exports

Exports in ASEAN

In 2022, shipments abroad 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 recorded a relatively flat trend pattern. The most prominent rate of growth was recorded 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 stood at a somewhat lower figure.

In value terms, palm kernel oil exports totaled $X in 2022. Total exports indicated a tangible 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 growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Indonesia was the largest exporter of palm kernel and babassu oil in ASEAN, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. Malaysia (X tons) held 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 ASEAN, 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, the largest palm kernel oil supplying countries in ASEAN were Indonesia ($X), Malaysia ($X) and Thailand ($X), together accounting for X% of total exports.

Thailand, 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 leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a perceptible 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 export 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. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

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 ASEAN

In 2022, after two years of growth, there was significant decline in overseas purchases of palm kernel and babassu oil, when their volume decreased by X% to X tons. Over the period under review, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, palm kernel oil imports reduced to $X in 2022. Overall, imports saw a noticeable slump. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia represented the largest importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by the Philippines (X tons), achieving an X% share of total imports.

Imports into Malaysia decreased at an average annual rate of X% from 2012 to 2022. The Philippines experienced a relatively flat trend pattern. While the share of the Philippines (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Malaysia, palm kernel oil imports decreased by an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated a temperate 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 import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2022 and is likely to continue growth in years to come.

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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