Netherlands: Palm Oil Market 2024

Palm Oil Market Size in the Netherlands

In 2022, the Dutch palm oil market increased by 13% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption showed a slight decline. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Palm Oil Production in the Netherlands

In value terms, palm oil production amounted to $X in 2022 estimated in export price. Overall, production recorded a abrupt decline. The growth pace was the most rapid in 2017 when the production volume increased by 9%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Palm Oil Exports

Exports from the Netherlands

In 2022, overseas shipments of palm oil decreased by -25.4% to X tons, falling for the second year in a row after two years of growth. In general, exports saw a pronounced reduction. The pace of growth appeared the most rapid in 2013 with an increase of 15% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, palm oil exports reduced to $X in 2022. Over the period under review, exports showed a slight curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 27% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons), Belgium (X tons) and Italy (X tons) were the main destinations of palm oil exports from the Netherlands, with a combined 75% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +4.6%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for palm oil exported from the Netherlands were Germany ($X), Belgium ($X) and Italy ($X), together comprising 74% of total exports.

Among the main countries of destination, Germany, with a CAGR of +6.5%, 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 oil export price stood at $X per ton in 2022, with an increase of 25% against the previous year. In general, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm oil export price increased by +101.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Russia ($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 Spain (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Oil Imports

Imports into the Netherlands

In 2022, supplies from abroad of palm oil decreased by -20.8% to X tons, falling for the third year in a row after three years of growth. Overall, imports continue to indicate a perceptible setback. The growth pace was the most rapid in 2013 with an increase of 16% 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 oil imports totaled $X in 2022. In general, imports showed a perceptible downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Papua New Guinea (X tons) and Guatemala (X tons) were the main suppliers of palm oil imports to the Netherlands, together comprising 60% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Guatemala (with a CAGR of +25.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest palm oil suppliers to the Netherlands were Malaysia ($X), Papua New Guinea ($X) and Guatemala ($X), with a combined 60% share of total imports.

Guatemala, with a CAGR of +29.2%, recorded the highest growth rate of the value of imports, among 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 oil import price amounted to $X per ton, jumping by 28% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm oil import price increased by +123.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 47% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue 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 Colombia ($X per ton) and Guatemala ($X per ton), while the price for Costa Rica ($X per ton) and Honduras ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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