Czech Republic: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in the Czech Republic

In 2023, the Czech refined palm oil market increased by X% to $X, rising for the sixth consecutive year after two years of decline. Over the period under review, consumption recorded a prominent expansion. Refined palm oil consumption peaked in 2023 and is expected to retain growth in the immediate term.

Refined Palm Oil Production in the Czech Republic

In value terms, refined palm oil production amounted to $X in 2023 estimated in export price. Overall, production saw a prominent increase. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level in 2023 and is likely to see steady growth in the immediate term.

Refined Palm Oil Exports

Exports from the Czech Republic

In 2023, the amount of refined palm oil exported from the Czech Republic declined significantly to X tons, waning by X% on the previous year's figure. In general, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, refined palm oil exports fell remarkably to $X in 2023. Over the period under review, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of X%. The exports peaked at $X in 2022, and then fell dramatically in the following year.

Exports by Country

Slovakia (X tons) was the main destination for refined palm oil exports from the Czech Republic, with a X% share of total exports. Moreover, refined palm oil exports to Slovakia exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Slovakia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Germany (X% per year).

In value terms, Slovakia ($X) remains the key foreign market for refined palm oil exports from the Czech Republic, comprising X% of total exports. The second position in the ranking was taken by Poland ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Slovakia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Germany (X% per year).

Export Prices by Country

In 2023, the average refined palm oil export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, recorded a modest expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2022, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into the Czech Republic

In 2023, approx. X tons of refined palm oil were imported into the Czech Republic; with a decrease of X% compared with 2022. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports failed to regain momentum.

In value terms, refined palm oil imports declined significantly to $X in 2023. Overall, imports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Germany (X tons) constituted the largest refined palm oil supplier to the Czech Republic, with a X% share of total imports. Moreover, refined palm oil imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Poland (X% per year).

In value terms, Germany ($X) constituted the largest supplier of refined palm oil to the Czech Republic, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with an X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Italy (X% per year).

Import Prices by Country

In 2023, the average refined palm oil import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price saw a pronounced increase. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Austria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform