Netherlands: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in the Netherlands

The Dutch refined palm oil market soared to $X in 2022, surging by 19% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Palm Oil Production in the Netherlands

In value terms, refined palm oil production totaled $X in 2022 estimated in export price. In general, production showed a deep contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 9% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refined Palm Oil Exports

Exports from the Netherlands

In 2022, exports of refined palm oil from the Netherlands reduced markedly to X tons, shrinking by -27.3% on the previous year's figure. Overall, exports saw a deep setback. The most prominent rate of growth was recorded 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, refined palm oil exports contracted to $X in 2022. Over the period under review, exports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 23% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons), Germany (X tons) and Italy (X tons) were the main destinations of refined palm oil exports from the Netherlands, with a combined 73% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +2.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Belgium ($X), Germany ($X) and Italy ($X) constituted the largest markets for refined palm oil exported from the Netherlands worldwide, together accounting for 71% of total exports. France, Austria, Poland, the UK, Spain, Romania and Russia lagged somewhat behind, together accounting for a further 24%.

Romania, with a CAGR of +5.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, picking up by 25% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined palm oil export price increased by +104.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 43% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Italy ($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 (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into the Netherlands

Refined palm oil imports into the Netherlands dropped remarkably to X tons in 2022, with a decrease of -18.9% compared with the previous year. Over the period under review, imports, however, recorded a modest increase. The pace of growth was the most pronounced in 2017 with an increase of 39%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, refined palm oil imports expanded markedly to $X in 2022. Overall, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +72.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 60% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Germany (X tons) were the main suppliers of refined palm oil imports to the Netherlands, together comprising 88% of total imports. Spain, Belgium and Colombia lagged somewhat behind, together comprising a further 6.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +159.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Germany ($X) appeared to be the largest refined palm oil suppliers to the Netherlands, together accounting for 89% of total imports. Belgium, Colombia and Spain lagged somewhat behind, together comprising a further 6.3%.

Spain, with a CAGR of +141.9%, saw the highest growth rate of 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 refined palm oil import price amounted to $X per ton, rising by 38% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined palm oil import price increased by +101.9% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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