Report Update Nov 1, 2024

Philippines - Crude Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Philippines: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in the Philippines

The Philippine crude palm oil market amounted to $X in 2022, increasing by 8.2% against the previous year. Over the period under review, consumption posted notable growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Palm Oil Production in the Philippines

In value terms, crude palm oil production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 132%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Crude Palm Oil Exports

Exports from the Philippines

For the fourth consecutive year, the Philippines recorded decline in overseas shipments of crude palm oil, which decreased by -18.5% to X tons in 2022. In general, exports saw a deep contraction. The growth pace was the most rapid in 2013 when exports increased by 85%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, crude palm oil exports amounted to $X in 2022. Over the period under review, exports saw a mild downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 79%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for crude palm oil exports from the Philippines, with a 64% share of total exports. Moreover, crude palm oil exports to Singapore exceeded the volume sent to the second major destination, Malaysia (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Singapore stood at +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-20.3% per year) and India (-22.8% per year).

In value terms, Singapore ($X) emerged as the key foreign market for crude palm oil exports from the Philippines, comprising 66% of total exports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore amounted to +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-16.1% per year) and India (-18.3% per year).

Export Prices by Country

The average crude palm oil export price stood at $X per ton in 2022, rising by 32% against the previous year. Overall, the export price recorded strong growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 74% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to India ($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 Sri Lanka (+49.6%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

Indonesia constituted the country with the largest volume of crude palm oil consumption, accounting for 50% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia, twofold. India ranked third in terms of total consumption with a 9.9% share.

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

Indonesia remains the largest crude palm oil producing country worldwide, accounting for 58% of total volume. Moreover, crude 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 4.1% share.

What are the leading suppliers of crude palm oil to the Philippines?

In value terms, Italy constituted the largest supplier of crude palm oil to the Philippines, comprising 70% of total imports. The second position in the ranking was occupied by Taiwan Chinese), with a 30% share of total imports.

What are the leading importers of crude palm oil from the Philippines?

In value terms, Malaysia, India and Portugal were the largest markets for crude palm oil exported from the Philippines worldwide, with a combined 65% share of total exports. These countries were followed by Singapore, Kenya, Sri Lanka and Cameroon, which together accounted for a further 33%.

What is the average export price for crude palm oil in the Philippines?

In 2021, the average crude palm oil export price amounted to $659 per ton, rising by 15% against the previous year.

What is the average import price for crude palm oil in the Philippines?

In 2021, the average crude palm oil import price amounted to $336 per ton, which is down by -1.6% against the previous year.

This report provides an in-depth analysis of the crude palm oil market in the Philippines. 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:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
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