United Kingdom - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPalm Oil Price in the UK - 2023
Contents:
- Palm Oil Price in the UK (CIF) - 2023
- Palm Oil Price in the UK (FOB) - 2023
- Palm Oil Imports in the UK
- Palm Oil Exports in the UK
Palm Oil Price in the UK (CIF) - 2023
The average palm oil import price stood at $1,306 per ton in August 2023, rising by 18% against the previous month. In general, the import price, however, recorded a perceptible curtailment. Over the period under review, average import prices reached the maximum at $1,708 per ton in August 2022; however, from September 2022 to August 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was the Netherlands ($2,037 per ton), while the price for Colombia ($1,051 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Palm Oil Price in the UK (FOB) - 2023
The average palm oil export price stood at $1,556 per ton in August 2023, dropping by -7.4% against the previous month. Overall, the export price saw a noticeable reduction. The growth pace was the most rapid in February 2023 when the average export price increased by 15% month-to-month. The export price peaked at $2,179 per ton in August 2022; however, from September 2022 to August 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In August 2023, the country with the highest price was the Netherlands ($4,659 per ton), while the average price for exports to Ireland ($1,574 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+6.9%), while the prices for the other major destinations experienced a decline.
Palm Oil Imports in the UK
For the third year in a row, the UK recorded decline in purchases abroad of palm oil, which decreased by -7.2% to 361K tons in 2022. Over the period under review, imports saw a abrupt decrease.
In value terms, palm oil imports skyrocketed to $558M in 2022. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
Import of Palm Oil in the UK (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Papua New Guinea | 80.2 | 93.8 | 106 | 204 | 36.5% |
Indonesia | 56.9 | 59.4 | 88.9 | 121 | 28.6% |
Malaysia | 31.1 | 45.8 | 85.3 | 87.2 | 41.0% |
Germany | 8.7 | 8.8 | 22.6 | 65.8 | 96.3% |
Netherlands | 94.3 | 90.5 | 129 | 46.7 | -20.9% |
Solomon Islands | 16.9 | 11.1 | 5.9 | 16.3 | -1.2% |
Others | 13.4 | 16.1 | 22.7 | 17.1 | 8.5% |
Total | 302 | 325 | 460 | 558 | 22.7% |
Top Suppliers of Palm Oil to the UK in 2022:
- Papua New Guinea (138.4K tons)
- Indonesia (78.9K tons)
- Malaysia (55.3K tons)
- Germany (39.5K tons)
- Netherlands (27.5K tons)
- Solomon Islands (12.3K tons)
Palm Oil Exports in the UK
In 2022, approx. 6.1K tons of palm oil were exported from the UK; growing by 27% against the previous year's figure. Over the period under review, exports, however, saw a dramatic decrease. The pace of growth appeared the most rapid in 2020 when exports increased by 33%. As a result, the exports reached the peak of 32K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, palm oil exports soared to $9.9M in 2022. Overall, exports, however, recorded a sharp shrinkage.
Export of Palm Oil in the UK (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Ireland | 14.0 | 10.8 | 2.7 | 4.7 | -30.5% |
Netherlands | 4.7 | 9.2 | 1.4 | 0.9 | -42.4% |
France | 1.3 | 0.9 | 0.5 | 0.5 | -27.3% |
Germany | 1.3 | 1.2 | 0.8 | 0.5 | -27.3% |
Spain | 1.3 | 0.4 | 0.8 | 0.5 | -27.3% |
Poland | 1.5 | 1.8 | 0.1 | 0.1 | -59.5% |
Belgium | 1.4 | 5.0 | 0.1 | 0.1 | -58.5% |
Taiwan (Chinese) | 1.8 | 1.1 | N/A | N/A | -38.9% |
Others | 3.0 | 3.4 | 1.3 | 2.6 | -4.7% |
Total | 30.2 | 33.9 | 7.7 | 9.9 | -31.0% |
Top Export Markets for Palm Oil from the UK in 2022:
- Ireland (3515.8 tons)
- Netherlands (520.1 tons)
- France (261.8 tons)
- Germany (223.9 tons)
- Spain (151.8 tons)
- Belgium (53.6 tons)
- Poland (23.3 tons)
This report provides an in-depth analysis of the palm oil market in the UK. 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:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- 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
- Find deeper insights into current market developments
- 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
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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