Jordan: Refined Palm Oil Market 2025

Refined Palm Oil Market Size in Jordan

The Jordanian refined palm oil market soared to $X in 2022, jumping by 28% against the previous year. Over the period under review, consumption, however, continues to indicate strong growth. Refined palm oil consumption peaked in 2022 and is likely to continue growth in the near future.

Refined Palm Oil Production in Jordan

In value terms, refined palm oil production rose rapidly to $X in 2022 estimated in export price. Overall, production enjoyed a significant increase. The growth pace was the most rapid in 2015 when the production volume increased by 80% against the previous year. Refined palm oil production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Refined Palm Oil Exports

Exports from Jordan

In 2022, shipments abroad of refined palm oil decreased by -0.9% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw a perceptible contraction. The growth pace was the most rapid in 2018 when exports increased by 914% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, refined palm oil exports soared to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 831% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Syrian Arab Republic (X tons), Palestine (X tons) and the United States (X tons) were the main destinations of refined palm oil exports from Jordan.

From 2012 to 2022, the biggest increases were recorded for Syrian Arab Republic (with a CAGR of +9.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for refined palm oil exported from Jordan were Syrian Arab Republic ($X), Palestine ($X) and the United States ($X).

Syrian Arab Republic, with a CAGR of +16.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, rising by 45% against the previous year. Overall, the export price showed a moderate increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 66%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Syrian Arab Republic ($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 Palestine (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into Jordan

Refined palm oil imports into Jordan contracted remarkably to X tons in 2022, falling by -38.7% against the previous year's figure. Over the period under review, imports showed a deep downturn. The growth pace was the most rapid in 2021 when imports increased by 51%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, refined palm oil imports declined significantly to $X in 2022. In general, imports recorded a noticeable decrease. The pace of growth was the most pronounced in 2021 with an increase of 115% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest refined palm oil supplier to Jordan, with a 55% share of total imports. Moreover, refined palm oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), twofold. The third position in this ranking was taken by Indonesia (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+2.3% per year) and Indonesia (-11.8% per year).

In value terms, Malaysia ($X) constituted the largest supplier of refined palm oil to Jordan, comprising 55% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 26% share of total imports. It was followed by Indonesia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+5.6% per year) and Indonesia (-8.1% per year).

Import Prices by Country

The average refined palm oil import price stood at $X per ton in 2022, increasing by 35% against the previous year. Over the period under review, the import price posted noticeable growth. The pace of growth was the most pronounced in 2021 when the average import price increased by 42% 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 highest price was recorded for prices from Indonesia ($X per ton) and Malaysia ($X per ton), while the price for Saudi Arabia ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform