
Philippines - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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Palm Oil Market Size in the Philippines
In 2022, the Philippine palm oil market increased by 90% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption showed a significant increase. Palm oil consumption peaked in 2022 and is likely to see steady growth in the near future.
Palm Oil Production in the Philippines
In value terms, palm oil production rose rapidly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 132% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.
Palm Oil Exports
Exports from the Philippines
For the fourth consecutive year, the Philippines recorded decline in overseas shipments of palm oil, which decreased by -16.5% to X tons in 2022. In general, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2013 when exports increased by 70%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.
In value terms, palm oil exports reached $X in 2022. Over the period under review, exports saw a slight setback. The growth pace was the most rapid in 2013 when exports increased by 62% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Singapore (X tons) was the main destination for palm oil exports from the Philippines, with a 60% share of total exports. Moreover, palm oil exports to Singapore exceeded the volume sent to the second major destination, Malaysia (X tons), fourfold. India (X tons) ranked third in terms of total exports with a 16% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore stood at +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-20.7% per year) and India (+48.6% per year).
In value terms, Singapore ($X) emerged as the key foreign market for palm oil exports from the Philippines, comprising 62% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 17% share of total exports. It was followed by India, with a 15% share.
From 2012 to 2022, the average annual rate of growth in terms of value to Singapore totaled +27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-16.6% per year) and India (+56.5% per year).
Export Prices by Country
In 2022, the average palm oil export price amounted to $X per ton, picking up by 31% against the previous year. Overall, the export price saw a noticeable expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 75% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Singapore ($X per ton) and Malaysia ($X per ton), while the average price for exports to China ($X per ton) and India ($X per ton) were 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.
Palm Oil Imports
Imports into the Philippines
For the third consecutive year, the Philippines recorded growth in supplies from abroad of palm oil, which increased by 87% to X tons in 2022. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 679%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, palm oil imports skyrocketed to $X in 2022. Overall, imports saw a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 971%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
Imports by Country
Malaysia (X tons) and Indonesia (X tons) were the main suppliers of palm oil imports to the Philippines.
From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +46.1%).
In value terms, the largest palm oil suppliers to the Philippines were Malaysia ($X) and Indonesia ($X).
Malaysia, with a CAGR of +51.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.
Import Prices by Country
In 2022, the average palm oil import price amounted to $X per ton, rising by 18% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm oil import price increased by +92.8% against 2018 indices. The pace of growth appeared the most rapid in 2021 an increase of 38% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia amounted to $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.6%).
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the 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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
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