Slovenia: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Slovenia

The Slovene refined palm oil market reduced slightly to $X in 2022, declining by -2.8% against the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.2% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Palm Oil Production in Slovenia

In value terms, refined palm oil production reduced slightly to $X in 2022 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 84% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Refined Palm Oil Exports

Exports from Slovenia

In 2022, refined palm oil exports from Slovenia skyrocketed to X tons, jumping by 353% against the previous year's figure. Over the period under review, exports saw significant growth. The pace of growth was the most pronounced in 2014 with an increase of 17,390%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, refined palm oil exports surged to $X in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 13,656%. The exports peaked 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 refined palm oil exports from Slovenia, together comprising 95% 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, Germany ($X), Austria ($X) and Croatia ($X) appeared to be the largest markets for refined palm oil exported from Slovenia worldwide, 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

The average refined palm oil export price stood at $X per ton in 2022, with an increase of 41% against the previous year. Over the period under review, the export price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 110% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major external 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 Germany (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into Slovenia

In 2022, overseas purchases of refined palm oil increased by 25% to X tons, rising for the second year in a row after four years of decline. In general, imports saw a relatively flat trend pattern. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, refined palm oil imports skyrocketed to $X in 2022. Overall, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +97.6% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Poland (X tons) and Austria (X tons) were the main suppliers of refined palm oil imports to Slovenia, with a combined 77% share of total imports. Sweden, Belgium, Germany, Indonesia and Croatia lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +25.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined palm oil suppliers to Slovenia were Poland ($X), Italy ($X) and Austria ($X), with a combined 76% share of total imports. Sweden, Belgium, Germany, Indonesia and Croatia lagged somewhat behind, together comprising a further 19%.

Indonesia, with a CAGR of +33.0%, 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 refined palm oil import price amounted to $X per ton, increasing by 16% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% 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 +78.3% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 32%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform