Report Update Nov 1, 2024

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

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Saudi Arabia: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Saudi Arabia

In 2022, after three years of growth, there was significant decline in the Saudi crude palm oil market, when its value decreased by 99.9% to less than $X. Over the period under review, consumption recorded a resilient expansion. As a result, consumption attained the peak level of $X, and then declined dramatically in the following year.

Crude Palm Oil Production in Saudi Arabia

In value terms, crude palm oil production amounted to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. Crude palm oil production peaked in 2022 and is likely to see gradual growth in the immediate term.

Crude Palm Oil Exports

Exports from Saudi Arabia

In 2022, after five years of growth, there was significant decline in overseas shipments of crude palm oil, when their volume decreased by -21.5% to X tons. Overall, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 1,568%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, crude palm oil exports shrank markedly to $X in 2022. In general, exports showed a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 1,180%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for crude palm oil exports from Saudi Arabia, accounting for a 42% share of total exports. Moreover, crude palm oil exports to France exceeded the volume sent to the second major destination, the Czech Republic (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to France was relatively modest.

In value terms, the Czech Republic ($X) emerged as the key foreign market for crude palm oil exports from Saudi Arabia, comprising 46% of total exports. The second position in the ranking was held by France ($X), with a 3.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Czech Republic amounted to +6,791,300.0%.

Export Prices by Country

In 2022, the average crude palm oil export price amounted to $X per ton, growing by 7.9% against the previous year. Over the period under review, the export price saw measured growth. The pace of growth appeared the most rapid in 2015 an increase of 113% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 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 the Czech Republic ($X per ton), while the average price for exports to France totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+347.5%), while the prices for the other major destinations experienced a decline.

Crude Palm Oil Imports

Imports into Saudi Arabia

Crude palm oil imports into Saudi Arabia skyrocketed to X tons in 2021, jumping by 26% compared with the year before. In general, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +10.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +143.6% against 2012 indices. The pace of growth was the most pronounced in 2014 with an increase of 30%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, crude palm oil imports soared to $X in 2021. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports attained the peak 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 crude palm oil imports to Saudi Arabia.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +35.1%).

In value terms, the largest crude palm oil suppliers to Saudi Arabia were Malaysia ($X) and Indonesia ($X).

Malaysia, with a CAGR of +34.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2021, the average crude palm oil import price amounted to $X per ton, surging by 47% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-0.7%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

Indonesia remains the largest crude palm oil consuming country worldwide, comprising approx. 50% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia, twofold. The third position in this ranking was occupied by India, with a 9.9% share.

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

The country with the largest volume of crude palm oil production was Indonesia, 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 Saudi Arabia?

In value terms, Malaysia constituted the largest supplier of crude palm oil to Saudi Arabia, comprising 67% of total imports. The second position in the ranking was occupied by Indonesia, with a 30% share of total imports.

What are the leading importers of crude palm oil from Saudi Arabia?

In value terms, the United Arab Emirates remains the key foreign market for crude palm oil exports from Saudi Arabia, comprising 97% of total exports. The second position in the ranking was occupied by Jordan, with a 2.6% share of total exports.

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

In 2021, the average crude palm oil export price amounted to $2,463 per ton, falling by -9.5% against the previous year.

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

The average crude palm oil import price stood at $644 per ton in 2021, dropping by -9.4% against the previous year.

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

Saudi Arabia

Data coverage:

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