Netherlands: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in the Netherlands

The Dutch crude palm oil market shrank to $X in 2022, which is down by -6.6% 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 continues to indicate a abrupt descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Crude Palm Oil Exports

Exports from the Netherlands

After three years of growth, shipments abroad of crude palm oil decreased by -17.6% to X tons in 2022. In general, exports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 38%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced rapidly in the following year.

In value terms, crude palm oil exports expanded sharply to $X in 2022. Over the period under review, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 56% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for crude palm oil exports from the Netherlands, accounting for a 70% share of total exports. Moreover, crude palm oil exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), sixfold. The third position in this ranking was taken by Denmark (X tons), with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+20.5% per year) and Denmark (+60.4% per year).

In value terms, Germany ($X) remains the key foreign market for crude palm oil exports from the Netherlands, comprising 72% of total exports. The second position in the ranking was taken by Italy ($X), with an 8.8% share of total exports. It was followed by Denmark, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +26.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+15.1% per year) and Denmark (+50.7% per year).

Export Prices by Country

In 2022, the average crude palm oil export price amounted to $X per ton, with an increase of 29% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.0% 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 +101.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 37%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and Germany ($X per ton), while the average price for exports to Italy ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Palm Oil Imports

Imports into the Netherlands

In 2022, overseas purchases of crude palm oil decreased by -21.2% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 16% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude palm oil imports contracted slightly to $X in 2022. Overall, imports saw a noticeable downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 20%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Papua New Guinea (X tons), Malaysia (X tons) and Guatemala (X tons) were the main suppliers of crude palm oil imports to the Netherlands, together accounting for 63% of total imports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +25.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude palm oil suppliers to the Netherlands were Papua New Guinea ($X), Malaysia ($X) and Guatemala ($X), together comprising 63% of total imports.

In terms of the main suppliers, Guatemala, with a CAGR of +29.2%, saw the highest rates of growth with regard to 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, surging by 26% against the previous year. Over the period under review, the import price continues to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 49% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Colombia ($X per ton) and Guatemala ($X per ton), while the price for Indonesia ($X per ton) and Costa Rica ($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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