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Saudi Arabia - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Palm Oil Price in Saudi Arabia - 2021
Contents:
- Refined Palm Oil Price in Saudi Arabia (CIF) - 2022
- Refined Palm Oil Price in Saudi Arabia (FOB) - 2022
- Refined Palm Oil Imports in Saudi Arabia
- Refined Palm Oil Exports in Saudi Arabia
Refined Palm Oil Price in Saudi Arabia (CIF) - 2022
In 2021, the average refined palm oil import price amounted to $1,544 per ton, picking up by 33% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Oman ($1,612 per ton) and the United Arab Emirates ($1,564 per ton), while the price for Malaysia ($1,209 per ton) and Indonesia ($1,240 per ton) were amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Refined Palm Oil Price in Saudi Arabia (FOB) - 2022
The average refined palm oil export price stood at $1,621 per ton in 2022, waning by -1.7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 33%. The export price peaked at $2,329 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Jordan ($1,659 per ton), while the average price for exports to Bahrain ($1,592 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 Jordan (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.
Refined Palm Oil Imports in Saudi Arabia
In 2021, after two years of growth, there was significant decline in supplies from abroad of refined palm oil, when their volume decreased by -29.4% to 76K tons. Over the period under review, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 2.3% against the previous year. As a result, imports attained the peak of 108K tons, and then dropped significantly in the following year.
In value terms, refined palm oil imports dropped to $118M in 2021. The total import value increased at an average annual rate of +3.1% from 2019 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 13%. As a result, imports attained the peak of $126M, and then reduced in the following year.
Import of Refined Palm Oil in Saudi Arabia (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
Oman | 58.9 | 67.0 | 65.7 | 5.6% | |
United Arab Emirates | 42.9 | 50.1 | 38.1 | -5.8% | |
Indonesia | 3.0 | 6.2 | 13.3 | 110.6% | |
Malaysia | 5.9 | 2.4 | 0.4 | -74.0% | |
Others | 0.2 | N/A | 0.3 | 22.5% | |
Total | 111 | 126 | 118 | 3.1% |
Top Suppliers of Refined Palm Oil to Saudi Arabia in 2022:
- Oman (40.7K tons)
- United Arab Emirates (24.3K tons)
- Indonesia (10.7K tons)
- Malaysia (0.4K tons)
Refined Palm Oil Exports in Saudi Arabia
In 2022, after three years of growth, there was decline in overseas shipments of refined palm oil, when their volume decreased by -3% to 19K tons. The total export volume increased at an average annual rate of +9.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 18% against the previous year.
In value terms, refined palm oil exports declined to $31M in 2022. In general, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +17.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 53% against the previous year.
Export of Refined Palm Oil in Saudi Arabia (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Bahrain | N/A | 0.1 | 1.8 | 17.2 | 1211.5% |
Jordan | 3.8 | 3.9 | 8.7 | 9.7 | 36.7% |
Egypt | 2.1 | N/A | N/A | 3.8 | 21.9% |
United Arab Emirates | 11.4 | 19.0 | 14.9 | N/A | 14.3% |
Others | 1.9 | 6.1 | 6.7 | N/A | 87.8% |
Total | 19.1 | 29.2 | 32.2 | 30.7 | 17.1% |
Top Export Markets for Refined Palm Oil from Saudi Arabia in 2022:
- Bahrain (10.8K tons)
- Jordan (5.8K tons)
- Egypt (2.3K tons)
This report provides an in-depth analysis of the refined palm oil market in Saudi Arabia. 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:
- Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)
Country coverage:
- Saudi Arabia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Saudi Arabia
- 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
-
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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