Hong Kong SAR, China: Palm Kernel Oil Market 2025

Palm Kernel Oil Market Size in Hong Kong SAR, China

The Hong Kong palm kernel oil market shrank notably to $X in 2022, reducing by -70.7% against the previous year. Overall, consumption saw a sharp slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Palm Kernel Oil Production in Hong Kong SAR, China

In value terms, palm kernel oil production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced setback. The growth pace was the most rapid in 2021 with an increase of 4.4% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Palm Kernel Oil Exports

Exports from Hong Kong SAR, China

In 2022, the amount of palm kernel and babassu oil exported from Hong Kong SAR soared to X tons, picking up by 102% against 2021 figures. Over the period under review, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 when exports increased by 805%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, palm kernel oil exports surged to $X in 2022. Overall, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 842%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for palm kernel oil exports from Hong Kong SAR, accounting for a 56% share of total exports. Moreover, palm kernel oil exports to Macao SAR exceeded the volume sent to the second major destination, Ireland (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR stood at -18.6%.

In value terms, Macao SAR ($X) remains the key foreign market for palm kernel and babassu oil exports from Hong Kong SAR, comprising 58% of total exports. The second position in the ranking was held by Ireland ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR totaled -20.8%.

Export Prices by Country

The average palm kernel oil export price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price saw a pronounced downturn. The most prominent rate of growth was recorded in 2017 an increase of 12%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Ireland stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kiribati (+256.5%), while the prices for the other major destinations experienced a decline.

Palm Kernel Oil Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of palm kernel and babassu oil decreased by -8.5% to X tons, falling for the eighth year in a row after three years of growth. Overall, imports recorded a precipitous contraction. The most prominent rate of growth was recorded in 2013 with an increase of 6.6%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, palm kernel oil imports rose significantly to $X in 2022. Over the period under review, imports continue to indicate a sharp 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

In 2022, Malaysia (X tons) was the main supplier of palm kernel oil to Hong Kong SAR, accounting for a 98% share of total imports. It was followed by Spain (X kg), with a 1.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to -36.0%.

In value terms, Malaysia ($X) constituted the largest supplier of palm kernel and babassu oil to Hong Kong SAR, comprising 94% of total imports. The second position in the ranking was held by Spain ($X), with a 2.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia stood at -33.7%.

Import Prices by Country

In 2022, the average palm kernel oil import price amounted to $X per ton, surging by 23% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm kernel oil import price increased by +67.4% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 69% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Malaysia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.7%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :