Germany: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Germany

In 2022, the German crude palm oil market increased by 90% to $X, rising for the third consecutive year after four years of decline. Overall, consumption, however, recorded a noticeable reduction. Crude palm oil consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Crude Palm Oil Exports

Exports from Germany

In 2022, approx. X tons of crude palm oil were exported from Germany; with a decrease of -23.5% against the previous year's figure. Overall, exports saw a dramatic decline. The pace of growth was the most pronounced in 2021 with an increase of 406%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, crude palm oil exports soared to $X in 2022. Over the period under review, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of 290% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for crude palm oil exports from Germany, accounting for a 65% share of total exports. Moreover, crude palm oil exports to the UK exceeded the volume sent to the second major destination, the Netherlands (X tons), fivefold. The third position in this ranking was taken by France (X tons), with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at -18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-31.9% per year) and France (+46.5% per year).

In value terms, the UK ($X) remains the key foreign market for crude palm oil exports from Germany, comprising 66% of total exports. The second position in the ranking was held by France ($X), with a 12% share of total exports. It was followed by the Netherlands, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to the UK totaled -10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+47.6% per year) and the Netherlands (-28.8% per year).

Export Prices by Country

The average crude palm oil export price stood at $X per ton in 2022, jumping by 61% against the previous year. In general, the export price saw a strong expansion. The pace of growth was the most pronounced in 2020 an increase of 109% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Denmark ($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 Portugal (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Palm Oil Imports

Imports into Germany

In 2022, the amount of crude palm oil imported into Germany skyrocketed to X tons, picking up by 66% on 2021. In general, imports, however, showed a abrupt decline. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, crude palm oil imports soared to $X in 2022. Overall, imports, however, continue to indicate a pronounced decline. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia (X tons), Guatemala (X tons) and the Netherlands (X tons) were the main suppliers of crude palm oil imports to Germany, with a combined 50% share of total imports. Brazil, Colombia, Honduras, Papua New Guinea, Cote d'Ivoire and Indonesia lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Cote d'Ivoire (with a CAGR of +530.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude palm oil suppliers to Germany were Malaysia ($X), Guatemala ($X) and the Netherlands ($X), together comprising 54% of total imports. Colombia, Honduras, Cote d'Ivoire, Papua New Guinea, Indonesia and Brazil lagged somewhat behind, together accounting for a further 38%.

In terms of the main suppliers, Cote d'Ivoire, with a CAGR of +457.1%, 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 crude palm oil import price stood at $X per ton in 2022, with an increase of 19% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% 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 import price increased by +110.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 56% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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