Netherlands: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in the Netherlands

In 2022, the Dutch palm kernel oil market increased by 24% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, enjoyed a prominent increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Palm Kernel Oil Production in the Netherlands

In value terms, palm kernel oil production contracted rapidly to $X in 2022 estimated in export price. Overall, production faced a sharp curtailment. The pace of growth was the most pronounced in 2021 with an increase of 1,292% against the previous year. Palm kernel oil production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Palm Kernel Oil Exports

Exports from the Netherlands

In 2022, approx. X tons of palm kernel and babassu oil were exported from the Netherlands; waning by -50.8% compared with the previous year's figure. In general, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2013 when exports increased by 202% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, palm kernel oil exports fell remarkably to $X in 2022. Overall, exports continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2013 when exports increased by 109% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons), Belgium (X tons) and Italy (X tons) were the main destinations of palm kernel oil exports from the Netherlands, with a combined 87% share of total exports. Spain, Hungary, France, Austria, Poland, Russia and Sweden lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +57.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and Italy ($X) constituted the largest markets for palm kernel oil exported from the Netherlands worldwide, together comprising 89% of total exports. Spain, Austria, France, Poland, Hungary, Russia and Sweden lagged somewhat behind, together comprising a further 8.4%.

In terms of the main countries of destination, Hungary, with a CAGR of +72.0%, recorded the highest growth rate of 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

The average palm kernel oil export price stood at $X per ton in 2022, jumping by 32% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm kernel oil export price increased by +107.2% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 46%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Russia ($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 Hungary (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Kernel Oil Imports

Imports into the Netherlands

For the fourth year in a row, the Netherlands recorded decline in purchases abroad of palm kernel and babassu oil, which decreased by -15.1% to X tons in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 86% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, palm kernel oil imports soared to $X in 2022. In general, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +97.8% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 59%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Malaysia (X tons), Papua New Guinea (X tons) and Colombia (X tons) were the main suppliers of palm kernel oil imports to the Netherlands, with a combined 66% share of total imports. Guatemala, Honduras, Costa Rica and Indonesia lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +37.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest palm kernel oil suppliers to the Netherlands were Malaysia ($X), Papua New Guinea ($X) and Colombia ($X), together accounting for 66% of total imports. Guatemala, Honduras, Costa Rica and Indonesia lagged somewhat behind, together comprising a further 29%.

Guatemala, with a CAGR of +46.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average palm kernel oil import price amounted to $X per ton, picking up by 42% against the previous year. In general, the import price posted a pronounced increase. The growth pace was the most rapid in 2021 an increase of 62%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and Malaysia ($X per ton), while the price for Papua New Guinea ($X per ton) and Honduras ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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