U.S. - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPalm Oil Price in the United States - 2023
Contents:
- Palm Oil Price in the United States (CIF) - 2023
- Palm Oil Price in the United States (FOB) - 2023
- Palm Oil Imports in the United States
- Palm Oil Exports in the United States
Palm Oil Price in the United States (CIF) - 2023
In September 2023, the average palm oil import price amounted to $961 per ton, approximately equating the previous month. In general, the import price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in May 2023 an increase of 8.9% month-to-month. The import price peaked at $1,401 per ton in September 2022; however, from October 2022 to September 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Colombia ($1,836 per ton), while the price for Indonesia ($946 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Colombia (-1.2%), while the prices for the other major suppliers experienced a decline.
Palm Oil Price in the United States (FOB) - 2023
In September 2023, the average palm oil export price amounted to $1,115 per ton, almost unchanged from the previous month. Overall, the export price, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in February 2023 an increase of 2.2% m-o-m. The export price peaked at $1,345 per ton in September 2022; however, from October 2022 to September 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In September 2023, the country with the highest price was Canada ($1,116 per ton), while the average price for exports to Mexico stood at $1,092 per ton.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (-0.6%).
Palm Oil Imports in the United States
In 2022, imports of palm oil into the United States shrank slightly to 1.7M tons, stabilizing at the previous year's figure. The total import volume increased at an average annual rate of +2.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 20% against the previous year. As a result, imports reached the peak of 1.7M tons, leveling off in the following year.
In value terms, palm oil imports skyrocketed to $2.3B in 2022. Overall, imports, however, showed significant growth. The growth pace was the most rapid in 2021 with an increase of 68% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.
Import of Palm Oil in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Indonesia | 591 | 608 | 1,399 | 1,937 | 48.5% |
Malaysia | 377 | 345 | 251 | 286 | -8.8% |
Others | 46.5 | 64.0 | 57.4 | 81.7 | 20.7% |
Total | 1,014 | 1,018 | 1,707 | 2,304 | 31.5% |
Top Suppliers of Palm Oil to the United States in 2022:
- Indonesia (1439.9K tons)
- Malaysia (206.4K tons)
Palm Oil Exports in the United States
For the fourth consecutive year, the United States recorded growth in overseas shipments of palm oil, which increased by 7.9% to 134K tons in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +19.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.0% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 46%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.
In value terms, palm oil exports soared to $171M in 2022. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 48%. The exports peaked in 2022 and are likely to see steady growth in years to come.
Export of Palm Oil in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | 78.4 | 85.7 | 106 | 162 | 27.4% |
Mexico | 6.5 | 5.1 | 7.6 | 8.8 | 10.6% |
Malaysia | N/A | 0.4 | 27.2 | N/A | 6700.0% |
Others | 2.2 | 7.7 | 6.0 | 0.6 | -35.2% |
Total | 87.2 | 98.9 | 147 | 171 | 25.2% |
Top Export Markets for Palm Oil from the United States in 2022:
- Canada (125.7K tons)
- Mexico (7.9K tons)
This report provides an in-depth analysis of the palm oil market in the U.S.. 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 States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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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