China - Palm Kernel And Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingImports of Palm Kernel Oil From China Plummet to $65 Million in December 2023
China Palm Kernel Oil Imports
Palm kernel oil imports into China reduced markedly to 71K tons in December 2023, waning by -25.3% compared with the previous month. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in August 2023 when imports increased by 174% against the previous month.
In value terms, palm kernel oil imports contracted significantly to $65M (IndexBox estimates) in December 2023. In general, imports continue to indicate a noticeable downturn. The pace of growth was the most pronounced in August 2023 with an increase of 159% m-o-m.
| COUNTRY | Import Value of Palm Kernel Oil in China (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | Nov 2023 | Dec 2023 | |
| Indonesia | 75.7 | 31.7 | 31.4 | 55.8 | 54.6 | 21.1 | 15.7 | 13.8 | 60.7 | 83.5 | 41.7 | 67.8 | 47.7 |
| Malaysia | 9.3 | 16.2 | 18.4 | 2.3 | 6.1 | 31.7 | 17.3 | 14.0 | 11.3 | 15.3 | 0.4 | 21.1 | 17.5 |
| Others | < 0.1 | < 0.1 | 0.2 | 1.1 | 0.6 | 0.7 | 0.2 | N/A | < 0.1 | 0.1 | 0.2 | < 0.1 | 0.1 |
| Total | 85.1 | 48.0 | 50.0 | 59.2 | 61.3 | 53.5 | 33.3 | 27.8 | 72.0 | 98.9 | 42.2 | 88.9 | 65.4 |
Imports by Country
In December 2023, Indonesia (52K tons) constituted the largest palm kernel oil supplier to China, accounting for a 72% share of total imports. Moreover, palm kernel oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (20K tons), threefold.
From December 2022 to December 2023, the average monthly rate of growth in terms of volume from Indonesia totaled -2.1%.
In value terms, Indonesia ($48M) constituted the largest supplier of palm kernel oil to China, comprising 73% of total imports. The second position in the ranking was taken by Malaysia ($18M), with a 27% share of total imports.
From December 2022 to December 2023, the average monthly growth rate of value from Indonesia totaled -3.8%.
Imports by Type
In December 2023, vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified (63K tons) constituted the largest type of palm kernel oil supplied to China, with a 89% share of total imports. Moreover, vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified exceeded the figures recorded for the second-largest type, vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified (8.1K tons), eightfold.
From December 2022 to December 2023, the average monthly growth rate of the volume of import of vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified stood at -1.4%.
In value terms, vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified ($58M) constituted the largest type of palm kernel oil supplied to China, comprising 89% of total imports. The second position in the ranking was taken by vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified ($7.1M), with an 11% share of total imports.
Import Prices by Country
In December 2023, the palm kernel oil price stood at $918 per ton (CIF, China), reducing by -1.5% against the previous month. Over the period under review, the import price recorded a mild slump. The growth pace was the most rapid in October 2023 when the average import price increased by 4.4% m-o-m. Over the period under review, average import prices hit record highs at $1,117 per ton in December 2022; however, from January 2023 to December 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the country with the highest price was Indonesia ($925 per ton), while the price for Malaysia amounted to $899 per ton.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Malaysia (-0.9%).
This report provides an in-depth analysis of the palm kernel oil market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 258 - Oil of Palm Kernel
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
