United Kingdom - Palm Kernel And Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingUK's Import of Palm Kernel Oil Sees Significant Decline to $26M in 2023
United Kingdom Palm Kernel Oil Imports
In 2023, the amount of palm kernel and babassu oil imported into the UK reduced markedly to 17K tons, shrinking by -23.9% against the year before. In general, imports recorded a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 25% against the previous year. Over the period under review, imports reached the peak figure at 34K tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.
In value terms, palm kernel oil imports declined dramatically to $26M (IndexBox estimates) in 2023. Over the period under review, imports saw a pronounced setback. The growth pace was the most rapid in 2021 with an increase of 43% against the previous year. Over the period under review, imports reached the peak figure at $46M in 2022, and then contracted significantly in the following year.
| COUNTRY | Import Value of Palm Kernel Oil in United Kingdom (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Netherlands | 2.7 | 7.5 | 3.6 | 4.6 | 6.3 | 12.8 | 18.7 | 9.7 | 12.8 | 5.2 | 11.3 |
| Papua New Guinea | 3.7 | 9.9 | 4.5 | 6.6 | 2.4 | N/A | N/A | N/A | 6.2 | 13.4 | 5.2 |
| Indonesia | 3.5 | 7.0 | 6.0 | 6.7 | 5.7 | 3.8 | 4.3 | 8.4 | 6.3 | 8.1 | 4.5 |
| Malaysia | 4.8 | 7.5 | 12.6 | 9.0 | 10.9 | 6.8 | 3.9 | 7.6 | 9.2 | 11.9 | 2.8 |
| Germany | 6.4 | 0.3 | 1.5 | 1.7 | 1.8 | 0.6 | 0.3 | 0.6 | 0.4 | 0.7 | 0.7 |
| Spain | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.6 | 0.5 |
| Ireland | 2.7 | 4.5 | 3.5 | 4.4 | 7.0 | 6.7 | 3.4 | 0.3 | 0.6 | 0.6 | 0.4 |
| Honduras | 1.3 | N/A | N/A | 2.8 | 4.9 | 3.1 | 3.6 | 2.4 | 3.9 | 0.9 | N/A |
| Others | 7.0 | 6.9 | 1.2 | 2.2 | 3.8 | 1.6 | 1.0 | 0.8 | 3.4 | 4.2 | 0.5 |
| Total | 32.1 | 43.6 | 33.0 | 37.9 | 42.7 | 35.4 | 35.3 | 29.8 | 42.7 | 45.6 | 26.0 |
Imports by Country
the Netherlands (6.1K tons), Papua New Guinea (4.6K tons) and Indonesia (2.5K tons) were the main suppliers of palm kernel oil imports to the UK, with a combined 79% share of total imports. Ireland, Malaysia, Germany and Spain lagged somewhat behind, together accounting for a further 20%.
From 2013 to 2023, the biggest increases were recorded for Spain (with a CAGR of +335.9%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the Netherlands ($11M) constituted the largest supplier of palm kernel and babassu oil to the UK, comprising 43% of total imports. The second position in the ranking was taken by Papua New Guinea ($5.2M), with a 20% share of total imports. It was followed by Indonesia, with a 17% share.
From 2013 to 2023, the average annual rate of growth in terms of value from the Netherlands totaled +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Papua New Guinea (+3.4% per year) and Indonesia (+2.5% per year).
Imports by Type
Vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified (8.9K tons) and vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified (7.8K tons) were the main products of palm kernel oil imports to the UK.
From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified (with a CAGR of +2.3%).
In value terms, palm kernel and babassu oil with the largest imports in the UK were vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified ($16M) and vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified ($10M).
Import Prices by Country
In 2023, the palm kernel oil price amounted to $1,557 per ton (CIF, United Kingdom), which is down by -25% against the previous year. In general, import price indicated a perceptible expansion from 2013 to 2023: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, palm kernel oil import price increased by +50.8% against 2020 indices. The growth pace was the most rapid in 2022 when the average import price increased by 46% against the previous year. As a result, import price attained the peak level of $2,077 per ton, and then contracted markedly in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($3,097 per ton), while the price for Ireland ($253 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Germany (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the palm kernel oil market in the UK. 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:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- 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
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- 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, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- 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 Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- 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 Of Destination, 2012–2024
