Report Update Nov 1, 2024

Norway - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Norway: Palm Oil Market 2024

Palm Oil Market Size in Norway

The Norwegian palm oil market soared to $X in 2022, with an increase of 88% 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). Overall, consumption, however, continues to indicate a abrupt slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Palm Oil Exports

Exports from Norway

Palm oil exports from Norway declined significantly to X tons in 2022, shrinking by -98.4% against the year before. Overall, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2015 with an increase of 16,637%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined markedly in the following year.

In value terms, palm oil exports declined significantly to $X in 2022. Over the period under review, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 11,053%. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Denmark (X tons) was the main destination for palm oil exports from Norway, accounting for a 94% share of total exports. Moreover, palm oil exports to Denmark exceeded the volume sent to the second major destination, Sweden (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Denmark stood at +122.7%.

In value terms, Denmark ($X) emerged as the key foreign market for palm oil exports from Norway, comprising 96% of total exports. The second position in the ranking was held by Sweden ($X), with a 4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Denmark stood at +124.1%.

Export Prices by Country

The average palm oil export price stood at $X per ton in 2022, jumping by 1,164% against the previous year. Over the period under review, the export price enjoyed a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Sweden totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+45.1%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Oil Imports

Imports into Norway

In 2022, approx. X tons of palm oil were imported into Norway; rising by 16% compared with the year before. Over the period under review, imports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2019 when imports increased by 126%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, palm oil imports soared to $X in 2022. Overall, imports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 59% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Sweden (X tons), the Netherlands (X tons) and Malaysia (X tons) were the main suppliers of palm oil imports to Norway, together accounting for 96% of total imports. Denmark and Germany lagged somewhat behind, together accounting for a further 3.7%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +20.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X), Sweden ($X) and Malaysia ($X) were the largest palm oil suppliers to Norway, with a combined 95% share of total imports. Denmark and Germany lagged somewhat behind, together comprising a further 3.3%.

Denmark, with a CAGR of +19.9%, saw the highest rates of growth with regard to 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, with an increase of 37% against the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 +100.8% 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 Germany ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for palm oil in the world?

The country with the largest volume of palm oil consumption was Indonesia, comprising approx. 25% of total volume. Moreover, palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, threefold. Malaysia ranked third in terms of total consumption with an 8.2% share.

What are the largest producers of palm oil in the world?

Indonesia remains the largest palm oil producing country worldwide, accounting for 56% of total volume. Moreover, palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. Thailand ranked third in terms of total production with a 4% share.

What are the leading suppliers of palm oil to Norway?

In value terms, Sweden, Malaysia and Germany were the largest palm oil suppliers to Norway, with a combined 95% share of total imports.

What are the leading importers of palm oil from Norway?

In value terms, Iceland emerged as the key foreign market for palm oil exports from Norway, comprising 88% of total exports. The second position in the ranking was occupied by Sweden, with a 12% share of total exports.

What is the average export price for palm oil in Norway?

The average palm oil export price stood at $891 per ton in 2020, surging by 76% against the previous year.

What is the average import price for palm oil in Norway?

In 2020, the average palm oil import price amounted to $1,164 per ton, with an increase of 7.7% against the previous year.

This report provides an in-depth analysis of the palm oil market in Norway. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 257 - Oil of palm

Country coverage:

Norway

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Norway
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023