Report Update Nov 1, 2024

Iraq - Refined Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Iraq: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Iraq

The Iraqi refined palm oil market contracted to $X in 2022, waning by -10.2% against the previous year. Over the period under review, consumption, however, continues to indicate a buoyant expansion. Refined palm oil consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Refined Palm Oil Production in Iraq

In value terms, refined palm oil production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a tangible increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by 33% against the previous year. Refined palm oil production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Refined Palm Oil Exports

Exports from Iraq

In 2022, the amount of refined palm oil exported from Iraq reached X kg, increasing by 12% on 2021. The total export volume increased at an average annual rate of +12.5% over the period from 2021 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, refined palm oil exports rose notably to $X in 2022. The total export value increased at an average annual rate of +12.5% from 2021 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X kg) was the main destination for refined palm oil exports from Iraq, accounting for a approx. 91% share of total exports.

From 2021 to 2022, the average annual growth rate of volume to Singapore was relatively modest.

In value terms, Singapore ($X) emerged as the key foreign market for refined palm oil exports from Iraq.

From 2021 to 2022, the average annual growth rate of value to Singapore was relatively modest.

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2021 to 2022, the rate of growth in terms of prices for France amounted to 0.0% per year.

Refined Palm Oil Imports

Imports into Iraq

In 2022, after three years of growth, there was significant decline in overseas purchases of refined palm oil, when their volume decreased by -6.1% to X tons. Over the period under review, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2015 when imports increased by 222% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, refined palm oil imports dropped dramatically to $X in 2022. In general, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 196% against the previous year. Imports peaked at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

Malaysia (X tons), Turkey (X tons) and Indonesia (X tons) were the main suppliers of refined palm oil imports to Iraq, together comprising 16% of total imports. Oman, Egypt and Iran lagged somewhat behind, together accounting for a further 1.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of +49.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Malaysia ($X) and Egypt ($X) were the largest refined palm oil suppliers to Iraq, together accounting for 14% of total imports. Oman, Iran and Indonesia lagged somewhat behind, together accounting for a further 1.4%.

In terms of the main suppliers, Oman, with a CAGR of +40.4%, saw the highest growth rate of 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

In 2022, the average refined palm oil import price amounted to $X per ton, declining by -13.2% against the previous year. Over the period under review, the import price showed a pronounced decrease. The pace of growth appeared the most rapid in 2021 an increase of 39%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Egypt ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined palm oil in the world?

The country with the largest volume of refined palm oil consumption was China, comprising approx. 12% of total volume. Moreover, refined palm oil consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with a 5.6% share.

What are the largest producers of refined palm oil in the world?

The country with the largest volume of refined palm oil production was Indonesia, comprising approx. 28% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. India ranked third in terms of total production with a 5.2% share.

What are the leading suppliers of refined palm oil to Iraq?

In value terms, Turkey constituted the largest supplier of refined palm oil to Iraq, comprising 73% of total imports. The second position in the ranking was occupied by Malaysia, with a 27% share of total imports.

What is the average import price for refined palm oil in Iraq?

In 2021, the average refined palm oil import price amounted to $640 per ton, which is down by -29.9% against the previous year.

This report provides an in-depth analysis of the refined palm oil market in Iraq. 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:

Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)

Country coverage:

Iraq

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iraq
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
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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. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
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
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023