Poland: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in Poland

The Polish palm kernel oil market soared to $X in 2022, rising by 51% 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 continues to indicate a buoyant increase. Palm kernel oil consumption peaked in 2022 and is likely to see steady growth in the near future.

Palm Kernel Oil Exports

Exports from Poland

In 2022, shipments abroad of palm kernel and babassu oil decreased by -30.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw strong growth. The pace of growth was the most pronounced in 2021 when exports increased by 694%. As a result, the exports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, palm kernel oil exports dropped sharply to $X in 2022. In general, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2020 when exports increased by 813% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined notably in the following year.

Exports by Country

The Netherlands (X tons), France (X tons) and Lithuania (X tons) were the main destinations of palm kernel oil exports from Poland, together accounting for 65% of total exports. Slovakia, Latvia, Germany, Bulgaria and Austria lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +133.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palm kernel oil exported from Poland were the Netherlands ($X), Lithuania ($X) and France ($X), together accounting for 60% of total exports. Slovakia, Latvia, Germany, Bulgaria and Austria lagged somewhat behind, together comprising a further 40%.

Bulgaria, with a CAGR of +174.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average palm kernel oil export price stood at $X per ton in 2022, with an increase of 11% against the previous year. Overall, the export price enjoyed a remarkable increase. The growth pace was the most rapid in 2016 when the average export price increased by 114% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 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 Germany ($X per ton), while the average price for exports to France ($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 Germany (+24.6%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Kernel Oil Imports

Imports into Poland

In 2022, the amount of palm kernel and babassu oil imported into Poland skyrocketed to X tons, with an increase of 15% against 2021. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +8.8% 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 +68.0% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by 63% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, palm kernel oil imports surged to $X in 2022. Overall, imports posted a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by 118%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Switzerland (X tons) were the main suppliers of palm kernel oil imports to Poland, together accounting for 93% of total imports.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +392.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Switzerland ($X) and Germany ($X) appeared to be the largest palm kernel oil suppliers to Poland, with a combined 92% share of total imports.

Switzerland, with a CAGR of +260.7%, recorded 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

The average palm kernel oil import price stood at $X per ton in 2022, with an increase of 40% against the previous year. Over the period under review, the import price recorded a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of 51%. The import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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