Kenya: Refined Palm Oil Market 2025

Refined Palm Oil Market Size in Kenya

The Kenyan refined palm oil market fell to $X in 2022, approximately mirroring the previous year. In general, consumption showed a mild descent. Refined palm oil consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Refined Palm Oil Production in Kenya

In value terms, refined palm oil production fell to $X in 2022 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.3% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 200%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Refined Palm Oil Exports

Exports from Kenya

In 2022, the amount of refined palm oil exported from Kenya reduced dramatically to X tons, dropping by -39.4% against 2021 figures. Overall, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 494%. The exports peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, refined palm oil exports fell markedly to $X in 2022. Over the period under review, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 667% against the previous year. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

Uganda (X tons) was the main destination for refined palm oil exports from Kenya, accounting for a 52% share of total exports. Moreover, refined palm oil exports to Uganda exceeded the volume sent to the second major destination, Rwanda (X tons), twofold. Democratic Republic of the Congo (X tons) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uganda totaled +61.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+18.9% per year) and Democratic Republic of the Congo (-1.4% per year).

In value terms, Uganda ($X), Rwanda ($X) and Democratic Republic of the Congo ($X) appeared to be the largest markets for refined palm oil exported from Kenya worldwide, together accounting for 88% of total exports. South Sudan, Zambia, Zimbabwe and Tanzania lagged somewhat behind, together comprising a further 9.6%.

Among the main countries of destination, Zimbabwe, with a CAGR of +65.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refined palm oil export price amounted to $X per ton, waning by -6.7% against the previous year. In general, the export price recorded a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of 45% against the previous year. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Tanzania ($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 South Sudan (+1.1%), while the prices for the other major destinations experienced a decline.

Refined Palm Oil Imports

Imports into Kenya

In 2022, the amount of refined palm oil imported into Kenya stood at X tons, rising by 9.3% on the previous year's figure. In general, imports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2014 when imports increased by 664% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, refined palm oil imports dropped to $X in 2022. Over the period under review, imports, however, showed a deep slump. The pace of growth was the most pronounced in 2014 when imports increased by 615% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and the United States (X tons) were the main suppliers of refined palm oil imports to Kenya, with a combined 91% 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 the United States (with a CAGR of +57.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of refined palm oil to Kenya, comprising 60% of total imports. The second position in the ranking was held by Indonesia ($X), with a 26% share of total imports. It was followed by Singapore, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia totaled -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-12.6% per year) and Singapore (-0.3% per year).

Import Prices by Country

The average refined palm oil import price stood at $X per ton in 2022, with a decrease of -18% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 50%. As a result, import price reached the peak level of $X per ton, and then declined sharply in the following year.

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 Singapore ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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