Report Update Nov 1, 2024

Ireland - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Ireland: Palm Oil Market 2024

Palm Oil Market Size in Ireland

For the third year in a row, the Irish palm oil market recorded growth in sales value, which increased by 16% to $X in 2022. In general, consumption, however, posted buoyant growth. Palm oil consumption peaked in 2022 and is likely to see gradual growth in years to come.

Palm Oil Exports

Exports from Ireland

In 2022, shipments abroad of palm oil decreased by 0% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports showed a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 772% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, palm oil exports amounted to $X in 2022. In general, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 258%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for palm oil exports from Ireland, accounting for a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to -29.8%.

From 2012 to 2022, the average annual growth rate of value to the UK stood at -26.2%.

Export Prices by Country

In 2022, the average palm oil export price amounted to $X per ton, approximately reflecting the previous year. Overall, the export price recorded measured growth. The growth pace was the most rapid in 2016 an increase of 191%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to +5.2% per year.

Palm Oil Imports

Imports into Ireland

In 2022, supplies from abroad of palm oil decreased by 0% to X tons, falling for the second year in a row after six years of growth. Overall, imports posted a noticeable expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 12%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, palm oil imports totaled $X in 2022. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 28% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Malaysia (X tons), the Netherlands (X tons) and the UK (X tons) were the main suppliers of palm oil imports to Ireland, with a combined 100% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +6.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest palm oil suppliers to Ireland were Malaysia ($X), the Netherlands ($X) and the UK ($X), with a combined 100% share of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +9.5%, 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 palm oil import price stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price showed a notable expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 15% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

Indonesia remains the largest palm oil consuming country worldwide, comprising approx. 25% of total volume. Moreover, palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by Malaysia, with an 8.2% share.

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

Indonesia remains the largest palm oil producing country worldwide, comprising approx. 56% of total volume. Moreover, palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. Thailand ranked third in terms of total production with a 4% share.

What are the leading suppliers of palm oil to Ireland?

In value terms, Malaysia, the Netherlands and the UK appeared to be the largest palm oil suppliers to Ireland, with a combined 99% share of total imports.

What are the leading importers of palm oil from Ireland?

In value terms, the UK remains the key foreign market for palm oil exports from Ireland.

What is the average export price for palm oil in Ireland?

The average palm oil export price stood at $1,325 per ton in 2020, growing by 32% against the previous year.

What is the average import price for palm oil in Ireland?

The average palm oil import price stood at $881 per ton in 2020, with an increase of 11% against the previous year.

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

Ireland

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ireland
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. 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