U.S.: Refined Palm Oil Market 2025

Refined Palm Oil Market Size in the U.S.

The U.S. refined palm oil market shrank modestly to $X in 2022, remaining stable against the previous year. In general, consumption, however, recorded resilient growth. Refined palm oil consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Refined Palm Oil Production in the U.S.

In value terms, refined palm oil production fell modestly to $X in 2022. Overall, production, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 153%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Refined Palm Oil Exports

Exports from the U.S.

In 2022, shipments abroad of refined palm oil increased by 6.1% to X tons, rising for the third consecutive year after two years of decline. In general, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 51%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, refined palm oil exports expanded rapidly to $X in 2022. Overall, exports saw a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for refined palm oil exports from the United States, with a 99% share of total exports. It was followed by Mexico (X tons), with a 0.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled +5.9%.

In value terms, Canada ($X) remains the key foreign market for refined palm oil exports from the United States, comprising 99% of total exports. The second position in the ranking was held by Mexico ($X), with a 0.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +7.0%.

Export Prices by Country

In 2022, the average refined palm oil export price amounted to $X per ton, picking up by 8.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2016 an increase of 11%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Mexico totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+2.5%).

Refined Palm Oil Imports

Imports into the U.S.

In 2022, approx. X tons of refined palm oil were imported into the United States; standing approx. at the year before. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +21.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, refined palm oil imports surged to $X in 2022. Overall, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 70% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest refined palm oil supplier to the United States, with a 85% share of total imports. Moreover, refined palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from Indonesia totaled +42.0%.

In value terms, Indonesia ($X) constituted the largest supplier of refined palm oil to the United States, comprising 84% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Indonesia totaled +44.8%.

Import Prices by Country

The average refined palm oil import price stood at $X per ton in 2022, picking up by 35% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.1% 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 +112.5% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 40%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.3%).

Source: IndexBox Platform

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