Papua New Guinea: Palm Kernel Oil Market 2020

Palm Kernel Oil Market Size in Papua New Guinea

The revenue of the palm kernel oil market in Papua New Guinea amounted to $X in 2018, jumping by X% against the previous year. In general, palm kernel oil consumption continues to indicate a remarkable expansion. The pace of growth appeared the most rapid in 2011 when the market value increased by X% against the previous year. In that year, the palm kernel oil market attained its peak level of $X. From 2012 to 2018, the growth of the palm kernel oil market failed to regain its momentum.

Palm Kernel Oil Production in Papua New Guinea

In value terms, palm kernel oil production stood at $X in 2018 estimated in export prices. Over the period under review, palm kernel oil production continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. Papua New Guinea palm kernel oil production peaked in 2018 and is likely to continue its growth in the near future.

Palm Kernel Oil Exports

Exports from Papua New Guinea

Palm kernel oil exports from Papua New Guinea amounted to X tons in 2018, increasing by X% against the previous year. In general, palm kernel oil exports continue to indicate remarkable growth. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Papua New Guinea exports peaked in 2018 and are likely to see steady growth in the near future.

In value terms, palm kernel oil exports totaled $X in 2018. In general, palm kernel oil exports continue to indicate a prominent increase. The growth pace was the most rapid in 2012 when exports increased by X% against the previous year. Over the period under review, palm kernel oil exports attained their peak figure in 2018 and are expected to retain its growth in the near future.

Exports by Country

Indonesia represented the main exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Malaysia (X tons), mixing up a X% share of total exports. The Netherlands (X tons), Colombia (X tons), Thailand (X tons), Guatemala (X tons) and Honduras (X tons) took a relatively small share of total exports.

From 2007 to 2018, average annual rates of growth with regard to palm kernel oil exports from Indonesia stood at +X%. At the same time, Honduras (+X%), Guatemala (+X%), Colombia (+X%), the Netherlands (+X%) and Thailand (+X%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Malaysia experienced a relatively flat trend pattern. Indonesia (+X p.p.), the Netherlands (+X p.p.) and Colombia (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest palm kernel oil supplier from Papua New Guinea, comprising X% of global exports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of global exports. It was followed by the Netherlands, with a X% share.

From 2007 to 2018, the average annual growth rate of value in Indonesia totaled +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+X% per year) and the Netherlands (+X% per year).

Export Prices by Country

In 2018, the palm kernel oil export price in Papua New Guinea amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price indicated a buoyant expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, palm kernel oil export price increased by +X% against 2013 indices. The most prominent rate of growth was recorded in 2008 when the export price increased by X% year-to-year. Papua New Guinea export price peaked in 2018 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Honduras ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Indonesia, while the other leaders experienced more modest paces of growth.

Palm Kernel Oil Imports

Imports into Papua New Guinea

In 2018, the amount of palm kernel and babassu oil imported into Papua New Guinea amounted to X tons, shrinking by -X% against the previous year. Over the period under review, palm kernel oil imports continue to indicate an abrupt shrinkage. The pace of growth appeared the most rapid in 2012 when imports increased by X% y-o-y. In that year, palm kernel oil imports reached their peak of X tons. From 2013 to 2018, the growth of palm kernel oil imports remained at a lower figure.

In value terms, palm kernel oil imports totaled $X in 2018. In general, palm kernel oil imports continue to indicate a deep slump. The growth pace was the most rapid in 2012 with an increase of X% y-o-y. In that year, palm kernel oil imports attained their peak of $X. From 2013 to 2018, the growth of palm kernel oil imports failed to regain its momentum.

Imports by Country

The imports of the seven major importers of palm kernel and babassu oil, namely China, the U.S., Germany, Malaysia, the Netherlands, Brazil and India, represented more than two-thirds of total import. The Philippines (X tons), Mexico (X tons), Japan (X tons), Turkey (X tons) and Spain (X tons) took a little share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by the Philippines, while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the U.S. ($X) appeared to be the countries with the highest levels of imports in 2018, together accounting for X% of total imports. Malaysia, Brazil, the Netherlands, India, Mexico, the Philippines, Turkey, Japan, Spain and Papua New Guinea lagged somewhat behind, together comprising a further X Philippines recorded the highest rates of growth with regard to imports, among the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the palm kernel oil import price in Papua New Guinea amounted to $X per ton, waning by -X% against the previous year. Over the period under review, the import price indicated a pronounced expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, palm kernel oil import price decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2012 when the import price increased by X% y-o-y. In that year, the import prices for palm kernel and babassu oil reached their peak level of $X per ton. From 2013 to 2018, the growth in terms of the import prices for palm kernel and babassu oil remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Brazil ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Brazil, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform