Poland: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Poland

For the third year in a row, the Polish refined palm oil market recorded growth in sales value, which increased by 27% to $X in 2022. Overall, consumption, however, showed a slight downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refined Palm Oil Production in Poland

In value terms, refined palm oil production soared to $X in 2022 estimated in export price. In general, production, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 258%. Refined palm oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Palm Oil Exports

Exports from Poland

In 2022, approx. X tons of refined palm oil were exported from Poland; with an increase of 51% on 2021. In general, exports continue to indicate a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined palm oil exports soared to $X in 2022. Overall, exports showed a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons), Germany (X tons) and the Czech Republic (X tons) were the main destinations of refined palm oil exports from Poland, together accounting for 70% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +95.1%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), the Czech Republic ($X) and Germany ($X) appeared to be the largest markets for refined palm oil exported from Poland worldwide, together comprising 68% of total exports.

Germany, with a CAGR of +97.2%, 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

In 2022, the average refined palm oil export price amounted to $X per ton, growing by 36% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined palm oil export price increased by +97.3% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Finland ($X per ton) and Russia ($X per ton), while the average price for exports to Germany ($X per ton) and Ukraine ($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 Slovenia (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into Poland

Refined palm oil imports into Poland dropped to X tons in 2022, flattening at 2021 figures. The total import volume increased at an average annual rate of +5.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 39%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, refined palm oil imports skyrocketed to $X in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 +77.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 37%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Italy (X tons) were the main suppliers of refined palm oil imports to Poland, with a combined 90% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined palm oil suppliers to Poland were Germany ($X), the Netherlands ($X) and Italy ($X), with a combined 90% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +16.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined palm oil import price amounted to $X per ton, surging by 30% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined palm oil import price increased by +95.0% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 35%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Denmark ($X per ton) and the Netherlands ($X per ton), while the price for Malaysia ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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