EUROPE & CENTRAL ASIAN REGIONS
Malaysian Palm Oil Exports Performance
January 2024
Regional Summary
Europe and Central Asian regions accounted for 15% of the total Malaysian palm oil and products exported in January 2024. Palm oil was the major composition of Malaysian palm oil palm products exported to the region with a market share of 45% or 152,276 MT of the total Malaysian palm oil and products exported into the region. The remaining palm-based products were comprised of other palm products (20%), palm-based oleochemicals (20%), biodiesel (8%), biodiesel (9%), palm kernel oil (4%), and finished
| Table 1: Malaysian Palm Oil and Palm Product Export to Europe & Central Asia | ||||
|---|---|---|---|---|
| Products | Jan 2024 | Jan 2023 | Change (MT) | Change (%) |
| Palm Oil | 152,276 | 104,573 | 47,703 | 45.62 |
| Other Palm Products | 69,199 | 28,062 | 41,137 | 146.59 |
| Palm-based Oleo | 66,925 | 44,663 | 22,261 | 49.84 |
| Biodiesel | 30,916 | 120 | 30,797 | 25,063.33 |
| Palm Kernel Oil | 14,732 | 10,383 | 4,349 | 41.89 |
| Finished Products | 6,516 | 4,719 | 1,797 | 38.08 |
| Palm Kernel Cake | – | 8,000 | (8,000) | (100.00) |
| Grand Total | 340,565 | 200,520 | 140,044 | 69.84 |
Featured Analysis
- Europe & Central Asia regions imported a total of 340,565 MT of palm oil and palm products, valued at RM 1.5 billion or USD 313.6 million in January 2024.
- Netherlands, Italy, Spain, Sweden, Germany, Georgia, United Kingdom, Denmark, Belgium and Latvia are the top 10 importers of Malaysian oil palm products in Europe and Central Asian regions within this period, importing 323,289 MT and representing 95% of the total Malaysian exports into these regions.
- Exports of Malaysian oil palm products to Europe in January 2024 increased by 75% as compared to the volume imported in January 2023, after a period of low imports in Q4 2023. Thus, this exceptional January 2024 performance could be due to stock replenishment activities. Palm oil are still facing the challenges of steady supply in rapeseed and sunflower oils in the region.
- Crude palm oil, palm oil mill effluent and biodiesel were the three major components of Malaysian oil palm products imported by the region and these three products accounted for 35% of the total products exported into the Europe region.
- The export performance of Malaysian oil palm products into the Central Asian region for January 2024 amounted to 5,328 MT, a drop of 37% or 3,165 MT compared to January 2023. Uzbekistan remained the largest import of Malaysian oil palm products at 3,141 MT.
- RBD palm oil, cooking oil, and shortening are the main Malaysian oil palm product components going into the region. These three accounted for 86% of the total Malaysian oil palm products imported by the Central Asian region.
EUROPE
Exports of Malaysian oil palm products to Europe in January 2024 increased by 75% as compared to the volume imported in January 2023. Records showed that Malaysia exported to 31 countries in the European region in January 2024, with only six countries showing a decline in imports as compared to January 2023. The Netherlands remained the biggest exporting destination of Malaysian palm oil in the region. The country imported a total of 156,059 MT of oil palm products from Malaysia, an increase of 44% Y-o-Y as compared to 108,234 MT in January 2023. Italy also recorded a similar uptrend, with a 121% increase in imports Y-o-Y, importing a total of 53,719 MT. A similar uptrend was also recorded in Sweden, Germany, and Georgia, with increments of above 10,000 MT Y-o-Y.
It is important to note that Malaysian oil palm product export performance in Europe in January 2024 came after low Q4 2023 (Oct-Dec) imports in the EU. Q4 2023 average of EU monthly imports of Malaysian oil palm products amounted to 99,397 MT, a 25% drop as compared to Q4 2022 at 133,873 MT. Thus, this exceptional January 2024 performance could be due to stock replenishment activities. Palm oil is still facing the challenges of an abundant supply of rapeseed and sunflower oils in the region.
Table 2: Malaysian Oil Palm Product Exports to Europe by Country | |||||
| COUNTRY | Jan 2024 | Jan 2024 | Diff (Vol) | Diff (%) |
1 | Netherlands | 156,059 | 108,234 | 47,825 | 44.19 |
2 | Italy | 53,719 | 24,319 | 29,400 | 120.89 |
3 | Spain | 43,381 | 25,745 | 17,636 | 68.50 |
4 | Sweden | 20,235 | 7,608 | 12,626 | 165.95 |
5 | Germany | 16,994 | 3,729 | 13,264 | 355.67 |
6 | Georgia | 10,360 | 65 | 10,294 | 15,750.44 |
7 | United Kingdom | 6,361 | 1,864 | 4,496 | 241.16 |
8 | Denmark | 5,652 | 4,231 | 1,421 | 33.58 |
9 | Belgium | 5,432 | 6,056 | (624) | (10.30) |
10 | Latvia | 5,097 | 371 | 4,727 | 1,274.58 |
11 | Others | 11,948 | 9,804 | 2,144 | 21.87 |
| Total | 335,237 | 192,028 | 143,209 | 74.58 |
Source: MPOB
Breakdown of Malaysian Palm Oil Export to Europe
Crude palm oil and palm oil mill effluent biodiesel were the three major components of Malaysian oil palm products imported by the region and these three products accounted for 35% of the total products exported into the Europe region. The European demand for biofuels continues to drive the import basket of Malaysian oil palm products in the region, with product derivatives such as POME and biodiesel exports recording a staggering increase of 286% and 25,711% Y-o-Y respectively.
Table 3: Breakdown of MPO into Europe Market (MT) | ||||
Jan 2024 | Jan 2023 | Diff (MT) | Diff (%) | |
CPO | 64,030 | 35,608 | 28,422 | 79.82 |
POME | 58,006 | 15,012 | 42,994 | 286.39 |
Biodiesel | 30,916 | 120 | 30,797 | 25,710.93 |
RBD PS | 19,380 | 16,233 | 3,147 | 19.39 |
RBD PO | 18,422 | 23,299 | (4,877) | (20.93) |
Stearic Acid | 14,643 | 7,197 | 7,446 | 103.47 |
PAO | 11,772 | 3,282 | 8,490 | 258.68 |
Medium Cut ME | 11,361 | 4,000 | 7,362 | 184.05 |
Others | 106,707 | 87,278 | 19,429 | 22.26 |
Total | 335,237 | 192,028 | 143,209 | 74.58 |
Source: MPOB
Central Asia
The export performance of Malaysian oil palm products into the Central Asian region for January 2024 amounted to 5,328 MT, a drop of 37% or 3,165 MT compared to January 2023. Uzbekistan remained the largest import of Malaysian oil palm products at 3,141 MT.
Table 4: Malaysian Oil Palm Product Exports to Central Asia | |||||
COUNTRY | Jan 2024 | Jan 2024 | Diff (Vol) | Diff (%) | |
1 | Uzbekistan | 3,141 | 6,491 | (3,350) | (51.61) |
2 | Kazakhstan | 1,929 | 1,910 | 19 | 0.98 |
3 | Tajikistan | 120 | 69 | 51 | 74.11 |
4 | Kyrgyzstan | 92 | – | 92 | – |
5 | Turkmenistan | 46 | 23 | 23 | 100.00 |
| Total | 5,328 | 8,493 | (3,165) | (37.27) |
Source: MPOB | |||||
Breakdown of Malaysian Oil Palm Product Exports to Central Asia
RBD palm oil, cooking oil, and shortening are the main Malaysian oil palm product components going into the region. These three accounted for 86% of the total Malaysian oil palm products imported by the region.
Table 5: Breakdown of Malaysian Oil Palm Product Exports into Central Asian Market (MT) | ||||
Jan 2024 | Jan 2024 | Diff (MT) | Diff (%) | |
RBD PO | 2,444 | 4,070 | (1,626) | (39.95) |
Cooking Oil | 1,187 | 559 | 628 | 112.40 |
Shortening | 972 | 232 | 739 | 318.56 |
Soap Noodles | 220 | 372 | (152) | (40.86) |
CBS | 207 | – | 207 | – |
HRBD PL | 86 | – | 86 | – |
RBD PS | 83 | 913 | (830) | (90.93) |
HPKS | 69 | 999 | (930) | (93.08) |
Others | 59 | 1,348 | (1,288) | (95.61) |
Total | 5,328 | 8,493 | (3,165) | (37.27) |
Source: MPOB
Figure 3: Breakdown of Malaysian Oil Palm Product Exports to Central Asia Jan-Dec 2023
For more info please contact Mr Fazari: fazari@mpoc.org.my
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