France: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in France

In 2022, the French refined palm oil market decreased by -1.4% to $X, falling for the third consecutive year after three years of growth. The market value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Refined Palm Oil Production in France

In value terms, refined palm oil production declined slightly to $X in 2022 estimated in export price. In general, production, however, showed a resilient expansion. The growth pace was the most rapid in 2014 when the production volume increased by 40%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Refined Palm Oil Exports

Exports from France

In 2022, the amount of refined palm oil exported from France declined significantly to X tons, with a decrease of -62.1% compared with the previous year's figure. In general, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 547%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank sharply in the following year.

In value terms, refined palm oil exports dropped sharply to $X in 2022. Over the period under review, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 321%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

Belgium (X tons) was the main destination for refined palm oil exports from France, accounting for a 83% share of total exports. Moreover, refined palm oil exports to Belgium exceeded the volume sent to the second major destination, Spain (X tons), ninefold. Germany (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium totaled +48.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+7.7% per year) and Germany (-9.4% per year).

In value terms, Belgium ($X) remains the key foreign market for refined palm oil exports from France, comprising 82% of total exports. The second position in the ranking was taken by Spain ($X), with a 9.1% share of total exports. It was followed by Germany, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to Belgium totaled +42.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+10.8% per year) and Germany (-8.2% per year).

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, with an increase of 54% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Poland ($X per ton) and Germany ($X per ton), while the average price for exports to Belgium ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (+17.8%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into France

In 2022, supplies from abroad of refined palm oil decreased by -2.8% to X tons, falling for the ninth consecutive year after two years of growth. Overall, imports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2013 with an increase of 28% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refined palm oil imports soared to $X in 2022. In general, imports continue to indicate a noticeable reduction. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of refined palm oil imports to France, with a combined 60% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +11.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Spain ($X) and Germany ($X) constituted the largest refined palm oil suppliers to France, together accounting for 61% of total imports.

Among the main suppliers, Spain, with a CAGR of +15.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refined palm oil import price stood at $X per ton in 2022, picking up by 31% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined palm oil import price increased by +110.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 35% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

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 Belgium ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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