Slovenia: Palm Oil Market 2024

Palm Oil Market Size in Slovenia

The Slovene palm oil market shrank modestly to $X in 2022, declining by -1.8% 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). The market value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then reduced modestly in the following year.

Palm Oil Exports

Exports from Slovenia

In 2022, exports of palm oil from Slovenia surged to X tons, rising by 252% on 2021 figures. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 17,390% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, palm oil exports soared to $X in 2022. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 13,656%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Austria (X tons) and Croatia (X tons) were the main destinations of palm oil exports from Slovenia, with a combined 95% share 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 +593.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palm oil exported from Slovenia were Germany ($X), Austria ($X) and Croatia ($X), with a combined 95% share of total exports.

Germany, with a CAGR of +708.1%, recorded the highest growth rate of 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 palm oil export price amounted to $X per ton, rising by 42% against the previous year. In general, the export price showed a prominent expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 99%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Croatia ($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 Serbia (+47.8%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Oil Imports

Imports into Slovenia

In 2022, the amount of palm oil imported into Slovenia stood at X tons, approximately reflecting the year before. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 19%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, palm oil imports amounted to $X in 2022. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +67.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 60% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

Italy (X tons), Poland (X tons) and Austria (X tons) were the main suppliers of palm oil imports to Slovenia, with a combined 80% share of total imports. Sweden, Belgium, Germany, Indonesia, France, Croatia, Malaysia and the Netherlands lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Croatia (with a CAGR of +77.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest palm oil suppliers to Slovenia were Italy ($X), Poland ($X) and Austria ($X), with a combined 79% share of total imports. Sweden, Belgium, Germany, Indonesia, Malaysia, Croatia, France and the Netherlands lagged somewhat behind, together comprising a further 21%.

Croatia, with a CAGR of +91.6%, saw 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

In 2022, the average palm oil import price amounted to $X per ton, picking up by 4.6% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm oil import price increased by +88.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 44% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Austria ($X per ton), while the price for Germany ($X per ton) and Italy ($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 (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform