Report Update Nov 1, 2024

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

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Canada: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Canada

The Canadian crude palm oil market surged to $X in 2022, jumping by 21% against the previous year. In general, consumption recorded a remarkable increase. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Crude Palm Oil Production in Canada

In value terms, crude palm oil production stood at $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 10,157,200%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Crude Palm Oil Exports

Exports from Canada

In 2022, shipments abroad of crude palm oil increased by 1,361% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a prominent increase. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, crude palm oil exports surged to $X in 2022. Overall, exports, however, continue to indicate a abrupt curtailment. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Togo (X tons), Guinea (X tons) and Barbados (X tons) were the main destinations of crude palm oil exports from Canada.

From 2012 to 2022, the biggest increases were recorded for Barbados (with a CAGR of +12.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude palm oil exported from Canada were Togo ($X), Guinea ($X) and Barbados ($X).

Among the main countries of destination, Barbados, with a CAGR of +9.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average crude palm oil export price amounted to $X per ton, waning by -3.5% against the previous year. Overall, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 413%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Barbados ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+12.9%).

Crude Palm Oil Imports

Imports into Canada

Crude palm oil imports into Canada surged to X tons in 2022, growing by 31% compared with the previous year. Overall, imports saw a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by 363% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, crude palm oil imports soared to $X in 2022. In general, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 366% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Ghana (X tons) constituted the largest supplier of crude palm oil to Canada, accounting for a 53% share of total imports. Moreover, crude palm oil imports from Ghana exceeded the figures recorded by the second-largest supplier, Nigeria (X tons), fourfold. Guinea (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ghana stood at +51.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (+49.0% per year) and Guinea (+36.2% per year).

In value terms, Ghana ($X) constituted the largest supplier of crude palm oil to Canada, comprising 53% of total imports. The second position in the ranking was held by Nigeria ($X), with a 14% share of total imports. It was followed by Guinea, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from Ghana amounted to +47.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (+49.9% per year) and Guinea (+32.6% per year).

Import Prices by Country

In 2022, the average crude palm oil import price amounted to $X per ton, dropping by -3.2% against the previous year. In general, the import price showed a perceptible decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 6.5%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Nigeria ($X per ton) and Ghana ($X per ton), while the price for Ecuador ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+0.6%), 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?

The country with the largest volume of crude palm oil consumption was Indonesia, comprising approx. 50% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia, twofold. India ranked third in terms of total consumption 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. Thailand ranked third in terms of total production with a 4.1% share.

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

In value terms, Ghana constituted the largest supplier of crude palm oil to Canada, comprising 51% of total imports. The second position in the ranking was occupied by Cameroon, with an 11% share of total imports. It was followed by Nigeria, with a 9.4% share.

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

In value terms, Barbados remains the key foreign market for crude palm oil exports from Canada.

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

The average crude palm oil export price stood at $912 per ton in 2021, surging by 2% against the previous year.

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

In 2021, the average crude palm oil import price amounted to $341 per ton, with a decrease of -4.1% against the previous year.

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

Canada

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Canada
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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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