Saudi Arabia: Palm Kernel Oil Market 2025

Palm Kernel Oil Market Size in Saudi Arabia

The Saudi palm kernel oil market rose sharply to $X in 2022, increasing by 6.5% 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 pronounced expansion. Palm kernel oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Palm Kernel Oil Exports

Exports from Saudi Arabia

In 2021, approx. X tons of palm kernel and babassu oil were exported from Saudi Arabia; jumping by 48% on the previous year. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 389% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, palm kernel oil exports skyrocketed to $X in 2021. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 482% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

India (X tons), Malaysia (X tons) and the Netherlands (X tons) were the main destinations of palm kernel oil exports from Saudi Arabia, together comprising 96% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Malaysia ($X) and the Netherlands ($X) were the largest markets for palm kernel oil exported from Saudi Arabia worldwide, with a combined 95% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, 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 2021, increasing by 34% against the previous year. Over the period under review, the export price, however, showed a slight decline. The pace of growth appeared the most rapid in 2013 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Kernel Oil Imports

Imports into Saudi Arabia

In 2022, purchases abroad of palm kernel and babassu oil decreased by -2% to X tons, falling for the third year in a row after two years of growth. Overall, imports, however, saw a perceptible expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 195% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, palm kernel oil imports shrank modestly to $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 171%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest palm kernel oil supplier to Saudi Arabia, with a 87% share of total imports. Moreover, palm kernel oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at +35.5%.

In value terms, Indonesia ($X) constituted the largest supplier of palm kernel and babassu oil to Saudi Arabia, comprising 87% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia totaled +39.6%.

Import Prices by Country

The average palm kernel oil import price stood at $X per ton in 2022, with a decrease of -2.1% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm kernel oil import price increased by +118.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 90% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Indonesia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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