France: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in France

In 2022, the French crude palm oil market decreased by -17.3% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, showed a modest expansion. Crude palm oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Crude Palm Oil Exports

Exports from France

In 2022, after two years of growth, there was significant decline in shipments abroad of crude palm oil, when their volume decreased by -9% to X tons. Over the period under review, exports, however, posted a pronounced increase. The most prominent rate of growth was recorded in 2017 with an increase of 1,692% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, crude palm oil exports shrank to $X in 2022. In general, exports, however, continue to indicate strong growth. The growth pace was the most rapid in 2017 with an increase of 644%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Estonia (X tons), Spain (X tons) and Slovenia (X tons) were the main destinations of crude palm oil exports from France, together comprising 88% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +122.3%), while the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X) remains the key foreign market for crude palm oil exports from France, comprising 45% of total exports. The second position in the ranking was held by Spain ($X), with a 19% share of total exports. It was followed by Slovenia, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia totaled +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+109.5% per year) and Slovenia (+16.9% per year).

Export Prices by Country

In 2022, the average crude palm oil export price amounted to $X per ton, leveling off at the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price 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. Based on 2022 figures, crude palm oil export price increased by +170.6% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 49% against the previous year. The export price peaked at $X per ton in 2013; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Spain ($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 Slovenia (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Palm Oil Imports

Imports into France

In 2022, supplies from abroad of crude palm oil decreased by -31.2% to X tons, falling for the second consecutive year after two years of growth. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 105%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, crude palm oil imports fell to $X in 2022. Over the period under review, imports, however, posted a mild expansion. The most prominent rate of growth was recorded in 2019 with an increase of 62% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and the Netherlands (X tons) were the main suppliers of crude palm oil imports to France, with a combined 87% share of total imports. Spain, Honduras, Belgium and Peru lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +20.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude palm oil suppliers to France were Indonesia ($X), Malaysia ($X) and the Netherlands ($X), with a combined 86% share of total imports. Spain, Honduras, Belgium and Peru lagged somewhat behind, together comprising a further 9.4%.

Belgium, with a CAGR of +19.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average crude palm oil import price amounted to $X per ton, jumping by 31% against the previous year. Overall, the import price recorded a perceptible increase. The pace of growth was the most pronounced in 2021 an increase of 74%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and Honduras ($X per ton), while the price for Peru ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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