Report Update Nov 1, 2024

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

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

GCC: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in GCC

In 2022, the GCC crude palm oil market decreased by -92.1% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, recorded a deep slump. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.

Crude Palm Oil Production in GCC

In value terms, crude palm oil production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production enjoyed significant growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Crude Palm Oil Exports

Exports in GCC

In 2022, overseas shipments of crude palm oil were finally on the rise to reach X tons after five years of decline. In general, exports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2016 when exports increased by 37%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crude palm oil exports totaled $X in 2022. Overall, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 46%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the largest exporter of crude palm oil, generating 81% of total exports. It was distantly followed by Saudi Arabia (X tons), generating a 15% share of total exports. Oman (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates decreased at an average annual rate of -14.4% from 2012 to 2022. Oman (-8.7%) and Saudi Arabia (-15.0%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest crude palm oil supplier in GCC, comprising 66% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 30% share of total exports.

In the United Arab Emirates, crude palm oil exports shrank by an average annual rate of -13.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-10.9% per year) and Oman (-10.4% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, flattening at the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2015 an increase of 32% against the previous year. The level of export peaked at $X per ton in 2021, and then reduced slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Crude Palm Oil Imports

Imports in GCC

In 2022, imports of crude palm oil in GCC fell dramatically to X tons, waning by -94.4% on 2021. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 28% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then fell remarkably in the following year.

In value terms, crude palm oil imports shrank sharply to $X in 2022. In general, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 87% against the previous year. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

In 2022, Qatar (X tons) represented the key importer of crude palm oil, achieving 53% of total imports. Oman (X tons) held a 31% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (15%).

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +62.4%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Qatar ($X) constitutes the largest market for imported crude palm oil in GCC, comprising 70% of total imports. The second position in the ranking was taken by Oman ($X), with a 17% share of total imports.

In Qatar, crude palm oil imports expanded at an average annual rate of +28.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (-9.2% per year) and Kuwait (+61.1% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, rising by 19% against the previous year. Overall, the import price saw slight growth. The growth pace was the most rapid in 2021 an increase of 47% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in GCC, split by region and country
Trade (exports and imports) in GCC
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. CONSUMPTION BY COUNTRY
3. 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
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
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
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bahrain
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- United Arab Emirates
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, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023