Report Update Nov 1, 2024

Australia - Crude Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Australia: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Australia

The Australian crude palm oil market plummeted to $X in 2022, dropping by -96.9% against the previous year. Over the period under review, consumption continues to indicate a dramatic setback. Crude palm oil consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Crude Palm Oil Production in Australia

In value terms, crude palm oil production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 20% against the previous year. Crude palm oil production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Crude Palm Oil Exports

Exports from Australia

In 2022, overseas shipments of crude palm oil increased by 6,262% to X tons, rising for the fifth year in a row after three years of decline. In general, exports continue to indicate a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude palm oil exports surged to $X in 2022. Overall, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons) was the main destination for crude palm oil exports from Australia, accounting for a 97% share of total exports. It was followed by China (X tons), with a 2.8% share of total exports.

From 2014 to 2022, the average annual growth rate of volume to Malaysia stood at +9.1%.

From 2014 to 2022, the average annual growth rate of value to Malaysia totaled +17.4%.

Export Prices by Country

The average crude palm oil export price stood at $X per ton in 2022, with a decrease of -63.5% against the previous year. In general, the export price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank sharply in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia stood at $X per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+7.7%).

Crude Palm Oil Imports

Imports into Australia

In 2022, approx. X tons of crude palm oil were imported into Australia; dropping by -24.3% compared with the previous year's figure. In general, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 841%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, crude palm oil imports fell significantly to $X in 2022. Overall, imports faced a deep slump. The pace of growth was the most pronounced in 2019 when imports increased by 836% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sierra Leone (X tons) was the main supplier of crude palm oil to Australia, with a 95% share of total imports. Moreover, crude palm oil imports from Sierra Leone exceeded the figures recorded by the second-largest supplier, Ghana (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sierra Leone amounted to +4.9%.

In value terms, Sierra Leone ($X) constituted the largest supplier of crude palm oil to Australia, comprising 77% of total imports. The second position in the ranking was held by Ghana ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Sierra Leone amounted to +3.7%.

Import Prices by Country

In 2022, the average crude palm oil import price amounted to $X per ton, reducing by -7.2% against the previous year. Overall, the import price continues to indicate a noticeable contraction. The pace of growth was the most pronounced in 2014 when the average import price increased by 51%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while the price for Sierra Leone stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude palm oil in the world?

Indonesia remains the largest crude palm oil consuming country worldwide, accounting for 50% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia, twofold. The third position in this ranking was occupied by India, with a 9.9% share.

What are the largest producers of crude palm oil in the world?

Indonesia remains the largest crude palm oil producing country worldwide, accounting for 58% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. The third position in this ranking was occupied by Thailand, with a 4.1% share.

What are the leading suppliers of crude palm oil to Australia?

In value terms, Indonesia, Malaysia and Nigeria $10) constituted the largest crude palm oil suppliers to Australia, with a combined 94% share of total imports.

What are the leading importers of crude palm oil from Australia?

In value terms, New Zealand, Indonesia and Fiji constituted the largest markets for crude palm oil exported from Australia worldwide, with a combined 99% share of total exports.

What is the average export price for crude palm oil in Australia?

In 2021, the average crude palm oil export price amounted to $1,364 per ton, increasing by 6% against the previous year.

What is the average import price for crude palm oil in Australia?

In 2021, the average crude palm oil import price amounted to $1,279 per ton, with an increase of 111% against the previous year.

This report provides an in-depth analysis of the crude palm oil market in Australia. 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:

Australia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Australia
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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023