Report Update Nov 1, 2024

Kenya - Crude Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Kenya: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Kenya

The Kenyan crude palm oil market rose modestly to $X in 2022, increasing by 2.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a significant increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Crude Palm Oil Exports

Exports from Kenya

In 2022, overseas shipments of crude palm oil decreased by -24.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2020 with an increase of 3,760%. The exports peaked at X tons in 2021, and then dropped significantly in the following year.

In value terms, crude palm oil exports shrank markedly to $X in 2022. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 5,189% against the previous year. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Uganda (X tons) was the main destination for crude palm oil exports from Kenya, with a 94% share of total exports. Moreover, crude palm oil exports to Uganda exceeded the volume sent to the second major destination, Rwanda (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uganda amounted to +43.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+65.2% per year) and Malawi (-34.5% per year).

In value terms, Uganda ($X) remains the key foreign market for crude palm oil exports from Kenya, comprising 92% of total exports. The second position in the ranking was held by Rwanda ($X), with a 7.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Uganda amounted to +43.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+90.3% per year) and Malawi (-29.9% per year).

Export Prices by Country

In 2022, the average crude palm oil export price amounted to $X per ton, remaining constant against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% 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 export price increased by +47.6% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 37%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Uganda ($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 Rwanda (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Palm Oil Imports

Imports into Kenya

Crude palm oil imports into Kenya soared to X tons in 2022, jumping by 19% on 2021. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 879% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, crude palm oil imports dropped to $X in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 791%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and Thailand (X tons) were the main suppliers of crude palm oil imports to Kenya, with a combined 65% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +62.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude palm oil suppliers to Kenya were Malaysia ($X), Indonesia ($X) and Thailand ($X), with a combined 57% share of total imports.

Among the main suppliers, Malaysia, with a CAGR of +63.6%, recorded 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

The average crude palm oil import price stood at $X per ton in 2022, waning by -22.6% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 64% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.6%), 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 crude palm oil in the world?

Indonesia remains the largest crude palm oil consuming country worldwide, comprising approx. 50% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia, twofold. India ranked third in terms of total consumption with a 9.9% share.

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

Indonesia remains the largest crude palm oil producing country worldwide, comprising approx. 58% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. The third position in this ranking was occupied by Thailand, with a 4.1% share.

What are the leading suppliers of crude palm oil to Kenya?

In value terms, the largest crude palm oil suppliers to Kenya were Indonesia and Malaysia.

What are the leading importers of crude palm oil from Kenya?

In value terms, Uganda remains the key foreign market for crude palm oil exports from Kenya.

What is the average export price for crude palm oil in Kenya?

The average crude palm oil export price stood at $1,072 per ton in 2021, rising by 55% against the previous year.

What is the average import price for crude palm oil in Kenya?

In 2021, the average crude palm oil import price amounted to $980 per ton, picking up by 36% against the previous year.

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

Kenya

Data coverage:

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