Oman: Refined Palm Oil Market 2025

Refined Palm Oil Market Size in Oman

The Omani refined palm oil market dropped to $X in 2022, falling by -5.1% against the previous year. Over the period under review, consumption, however, showed a perceptible shrinkage. Refined palm oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Palm Oil Production in Oman

In value terms, refined palm oil production soared to $X in 2022 estimated in export price. In general, production, however, faced a sharp contraction. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Refined Palm Oil Exports

Exports from Oman

In 2022, the amount of refined palm oil exported from Oman dropped notably to X tons, waning by -15.7% compared with the previous year. Over the period under review, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 106%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, refined palm oil exports fell remarkably to $X in 2022. In general, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 78%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Yemen (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main destinations of refined palm oil exports from Oman, with a combined 84% share of total exports. Somalia and Qatar lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +28.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Yemen ($X) were the largest markets for refined palm oil exported from Oman worldwide, with a combined 79% share of total exports. Somalia and Qatar lagged somewhat behind, together accounting for a further 19%.

In terms of the main countries of destination, Qatar, with a CAGR of +31.0%, saw the highest rates of growth with regard to 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

In 2022, the average refined palm oil export price amounted to $X per ton, waning by -7.3% against the previous year. Overall, the export price recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 an increase of 22% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Yemen ($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 Qatar (+2.3%), while the prices for the other major destinations experienced a decline.

Refined Palm Oil Imports

Imports into Oman

In 2022, refined palm oil imports into Oman fell to X tons, reducing by -5% against 2021 figures. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when imports increased by 34% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, refined palm oil imports reduced sharply to $X in 2022. Over the period under review, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +73.5% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 63%. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest refined palm oil supplier to Oman, accounting for a 69% share of total imports. Moreover, refined palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. India (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-6.4% per year) and India (+116.4% per year).

In value terms, Indonesia ($X) constituted the largest supplier of refined palm oil to Oman, comprising 71% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 17% share of total imports. It was followed by the United Arab Emirates, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia amounted to +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-7.5% per year) and the United Arab Emirates (-3.1% per year).

Import Prices by Country

In 2022, the average refined palm oil import price amounted to $X per ton, falling by -15.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 47%. As a result, import price reached the peak level of $X per ton, and then contracted markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :