Middle East: Palm Fruit Oil Market 2020

Palm Fruit Oil Exports

Exports in the Middle East

In 2017, the amount of palm fruit oil exported in Middle East stood at X tons, rising by X% against the previous year. The total exports indicated a strong expansion from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the palm fruit oil exports increased by +X% against 2012 indices. The most prominent rate of growth was recorded in 2013, when exports increased by X% year-to-year. The volume of exports peaked in 2017, and are expected to retain its growth in the immediate term.

In value terms, palm fruit oil exports stood at $X in 2017. The total exports indicated a prominent growth from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the palm fruit oil exports decreased by -X% against 2015 indices. Over the period under review, the palm fruit oil exports attained its maximum level of $X in 2015; however, from 2016 to 2017, it stood at a somewhat lower level.

Exports by Country

In 2017, the United Arab Emirates (X tons) was the major exporter for palm fruit oil, generating X% of total exports. Oman (X tons) ranks second in terms of the global exports with a X% share, followed by Saudi Arabia (X%) and Turkey (X%).

From 2007 to 2017, average annual rates of growth with regard to palm fruit oil exports from the United Arab Emirates stood at +X%. At the same time, Saudi Arabia (+X%) and Turkey (+X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest growing exporter in Middle East, with a CAGR of +X% from 2007-2017. Oman experienced a relatively flat trend pattern. Oman (-X%), Turkey (-X%), Saudi Arabia (-X%) and the United Arab Emirates (-X%) significantly weakened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2017, with a combined X% share of total exports.

Saudi Arabia (+X% per year) recorded the highest growth rate of exports, among the main exporting countriesover the last decade, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2017, the palm fruit oil export price in Middle East amounted to $X per ton, lowering by -X% against the previous year. The palm fruit oil export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011, when the export prices increased by X% against the previous year. The level of export price peaked of $X per ton in 2012; however, from 2013 to 2017, it failed to regain its momentum.

Average export prices varied somewhat amongst the major exporting countries. In 2017, major exporting countries recorded the following export prices: in Oman ($X per ton) and Saudi Arabia ($X per ton), while Turkey ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Oman (+X% per year), while the other leaders experienced a decline in the export price figures.

Palm Fruit Oil Imports

Imports in the Middle East

The imports totaled X tons in 2017, coming up by X% against the previous year. The total import volume increased an average annual rate of +X% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations over the period under review. The pace of growth was the most pronounced in 2012, when imports increased by X% y-o-y. Over the period under review, the palm fruit oil imports reached its peak figure volume in 2017, and are likely to see steady growth in the near future.

In value terms, palm fruit oil imports totaled $X in 2017. The total imports indicated a strong growth from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the palm fruit oil imports increased by +X% against 2015 indices. The level of imports peaked of $X in 2012; however, from 2013 to 2017, it failed to regain its momentum.

Imports by Country

Turkey represented the main importer of palm fruit oil in Middle East, with the volume of imports resulting at X tons, which was near X% of total imports in 2017. Iran (X tons) ranks second in terms of the global imports with a X% share, followed by the United Arab Emirates (X%), Saudi Arabia (X%), Oman (X%) and Yemen (X%). Jordan (X tons) occupied the minor share of total imports.

Turkey was also the fastest growing in terms of the palm fruit oil imports, with a CAGR of +X% from 2007 to 2017. At the same time, Oman (+X%), the United Arab Emirates (+X%), Yemen (+X%) and Saudi Arabia (+X%) displayed positive paces of growth. Iran and Jordan experienced a relatively flat trend pattern. While the share of Iran (-X%), Saudi Arabia (-X%), the United Arab Emirates (-X%), Oman (-X%) and Turkey (-X%) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported palm fruit oil in Middle East, making up X% of global imports. The second position in the ranking was occupied by Iran ($X), with a X% share of global imports. It was followed by Saudi Arabia, with a X% share.

From 2007 to 2017, the average annual rate of growth in terms of value in Turkey totaled +X%. In the other countries, the average annual rates were as follows: Iran (+X% per year) and Saudi Arabia (+X% per year).

Import Prices by Country

The palm fruit oil import price in Middle East stood at $X per ton in 2017, coming up by X% against the previous year. The palm fruit oil import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008, when the import prices increased by X% y-o-y. In that year, the import prices for palm fruit oil attained their peak level of $X per ton. From 2009 to 2017, growth of the import prices for palm fruit oil failed to regain its momentum.

Import prices varied noticeably by the country of destination; the country with the highest import price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Saudi Arabia (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform