Report Update Nov 1, 2024

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

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GCC: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in GCC

The GCC palm kernel oil market declined to $X in 2022, dropping by -2.2% against the previous year. Overall, consumption showed a buoyant expansion. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Palm Kernel Oil Production in GCC

In value terms, palm kernel oil production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 19% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Palm Kernel Oil Exports

Exports in GCC

In 2022, shipments abroad of palm kernel and babassu oil decreased by -39.9% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports recorded a slight curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 108%. The volume of export peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, palm kernel oil exports contracted markedly to $X in 2022. In general, exports saw a mild slump. The growth pace was the most rapid in 2020 when exports increased by 127% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the key exporter of palm kernel and babassu oil in GCC, comprising 100% of total export.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of palm kernel and babassu oil. While the share of the United Arab Emirates (+8.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest palm kernel oil supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates was relatively modest.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, waning by -7.9% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 37%. As a result, the export price attained the peak level of $X per ton, and then declined in the following year.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -0.1% per year.

Palm Kernel Oil Imports

Imports in GCC

In 2022, overseas purchases of palm kernel and babassu oil decreased by -4.1% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 91%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, palm kernel oil imports shrank to $X in 2022. In general, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 96% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together achieving 89% of total imports. It was distantly followed by Kuwait (X tons), committing a 4.9% share of total imports. The following importers - Bahrain (X tons) and Oman (X tons) - together made up 5.9% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +63.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest palm kernel oil importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X), with a combined 94% share of total imports.

In terms of the main importing countries, Bahrain, with a CAGR of +64.5%, saw 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 import price in GCC stood at $X per ton in 2022, waning by -5.7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 65% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the palm kernel 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 258 - Oil of Palm Kernel

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