United Kingdom - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View Pricing2023 Sees a Slight Decline in UK's Palm Oil Imports, Valuing $456M
United Kingdom Palm Oil Imports
In 2023, purchases abroad of palm oil was finally on the rise to reach 381K tons for the first time since 2019, thus ending a three-year declining trend. Overall, imports, however, recorded a mild curtailment. The growth pace was the most rapid in 2019 with an increase of 14%. As a result, imports attained the peak of 458K tons. From 2020 to 2023, the growth of imports failed to regain momentum.
In value terms, palm oil imports declined significantly to $456M (IndexBox estimates) in 2023. Over the period under review, total imports indicated a modest increase from 2013 to 2023: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 41% against the previous year. Over the period under review, imports attained the peak figure at $558M in 2022, and then fell significantly in the following year.
| COUNTRY | Import Value of Palm Oil in United Kingdom (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Papua New Guinea | 159 | 170 | 137 | 116 | 120 | 91.9 | 80.2 | 93.8 | 106 | 204 | 200 |
| Indonesia | 24.8 | 62.9 | 36.4 | 43.3 | 40.9 | 53.5 | 56.9 | 59.4 | 88.9 | 121 | 95.4 |
| Malaysia | 55.3 | 40.3 | 47.3 | 48.0 | 58.9 | 38.4 | 31.1 | 45.8 | 85.3 | 87.2 | 56.0 |
| Germany | 9.0 | 5.6 | 9.3 | 14.3 | 15.3 | 12.7 | 8.7 | 8.8 | 22.6 | 65.8 | 54.8 |
| Netherlands | 77.4 | 65.5 | 50.2 | 45.5 | 103 | 98.3 | 94.3 | 90.5 | 129 | 46.7 | 28.7 |
| Solomon Islands | 4.3 | 25.2 | 17.2 | 11.5 | 4.1 | 11.1 | 16.9 | 11.1 | 5.9 | 16.3 | N/A |
| Others | 64.8 | 10.4 | 4.5 | 7.2 | 9.3 | 11.0 | 13.4 | 16.1 | 22.7 | 17.1 | 21.8 |
| Total | 394 | 380 | 302 | 286 | 352 | 317 | 302 | 325 | 460 | 558 | 456 |
Imports by Country
In 2023, Papua New Guinea (192K tons) constituted the largest supplier of palm oil to the UK, accounting for a 50% share of total imports. Moreover, palm oil imports from Papua New Guinea exceeded the figures recorded by the second-largest supplier, Indonesia (78K tons), twofold. Malaysia (43K tons) ranked third in terms of total imports with an 11% share.
From 2013 to 2023, the average annual rate of growth in terms of volume from Papua New Guinea was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+10.3% per year) and Malaysia (-4.3% per year).
In value terms, Papua New Guinea ($200M) constituted the largest supplier of palm oil to the UK, comprising 44% of total imports. The second position in the ranking was taken by Indonesia ($95M), with a 21% share of total imports. It was followed by Malaysia, with a 12% share.
From 2013 to 2023, the average annual rate of growth in terms of value from Papua New Guinea stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+14.4% per year) and Malaysia (+0.1% per year).
Imports by Type
Crude palm oil (192K tons) and refined palm oil (189K tons) were the main products of palm oil imports to the UK.
From 2013 to 2023, the biggest increases were recorded for refined palm oil (with a CAGR of +4.6%).
In value terms, palm oil with the largest imports in the UK were refined palm oil ($256M) and crude palm oil ($201M).
Import Prices by Country
In 2023, the palm oil price amounted to $1,198 per ton (CIF, United Kingdom), falling by -22.6% against the previous year. In general, the import price, however, showed a notable expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 61% against the previous year. Over the period under review, average import prices reached the maximum at $1,548 per ton in 2022, and then declined notably 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 the Netherlands ($1,744 per ton), while the price for Papua New Guinea ($1,041 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the palm 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 257 - Oil of palm
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.
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
