Saudi Arabia: Crude Palm Oil Market 2025

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

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