Benelux: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in Benelux

In 2022, the Benelux palm kernel oil market increased by 28% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, posted a resilient increase. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Palm Kernel Oil Production in Benelux

In value terms, palm kernel oil production declined sharply to $X in 2022 estimated in export price. Overall, production faced a precipitous decrease. The growth pace was the most rapid in 2018 with an increase of 1,062,900% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Palm Kernel Oil Exports

Exports in Benelux

In 2022, approx. X tons of palm kernel and babassu oil were exported in Benelux; which is down by -49.1% against the previous year's figure. Over the period under review, exports continue to indicate a pronounced setback. The growth pace was the most rapid in 2013 with an increase of 201%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, palm kernel oil exports shrank dramatically to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 109%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands was the main exporting country with an export of around X tons, which amounted to 90% of total exports. It was distantly followed by Belgium (X tons), constituting a 10% share of total exports.

Exports from the Netherlands decreased at an average annual rate of -5.6% from 2012 to 2022. At the same time, Belgium (+17.6%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +17.6% from 2012-2022. Belgium (+9 p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands saw its share reduced by -9% from 2012 to 2022, respectively.

In value terms, the Netherlands ($X) remains the largest palm kernel oil supplier in Benelux, comprising 84% of total exports. The second position in the ranking was held by Belgium ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands amounted to -2.0%.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, jumping by 38% against the previous year. Over the period under review, the export price saw a measured increase. The growth pace was the most rapid in 2021 when the export price increased by 48% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.6%).

Palm Kernel Oil Imports

Imports in Benelux

In 2022, after two years of growth, there was significant decline in supplies from abroad of palm kernel and babassu oil, when their volume decreased by -12.7% to X tons. Total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% 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 2013 with an increase of 78% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, palm kernel oil imports skyrocketed to $X in 2022. In general, imports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 65%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The Netherlands was the key importer of palm kernel and babassu oil in Benelux, with the volume of imports accounting for X tons, which was approx. 81% of total imports in 2022. It was distantly followed by Belgium (X tons), comprising a 19% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to palm kernel oil imports into the Netherlands stood at +2.9%. At the same time, Belgium (+7.7%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in Benelux, with a CAGR of +7.7% from 2012-2022. Belgium (+6.1 p.p.) significantly strengthened its position in terms of the total imports, while the Netherlands saw its share reduced by -6.1% from 2012 to 2022, respectively.

In value terms, the Netherlands ($X) constitutes the largest market for imported palm kernel and babassu oil in Benelux, comprising 77% of total imports. The second position in the ranking was taken by Belgium ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands amounted to +7.5%.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, jumping by 45% against the previous year. Over the period under review, the import price enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2021 an increase of 59%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.4%).

Source: IndexBox Platform