Palm Oil Market in the United States
Market Overview
In 
, the U.S. palm oil market increased by % to $ for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a buoyant increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in and is expected to retain growth in years to come.
, the U.S. palm oil market increased by % to $ for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a buoyant increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in and is expected to retain growth in years to come.Consumption
In , palm oil consumption in the United States surged to tons, increasing by % compared with the previous year. In general, the total consumption indicated a strong increase from 2007 to : its volume increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, consumption hit record highs in and is expected to retain growth in the near future.
The size of the palm oil market in the United States surged to $ in , jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a remarkable increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Palm oil consumption peaked in and is likely to continue growth in years to come.
, palm oil consumption in the United States surged to tons, increasing by % compared with the previous year. In general, the total consumption indicated a strong increase from 2007 to : its volume increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, consumption hit record highs in and is expected to retain growth in the near future.The size of the palm oil market in the United States surged to $
in , jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a remarkable increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Palm oil consumption peaked in and is likely to continue growth in years to come.Market Forecast
Driven by increasing demand for palm oil in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .Trade Balance
The United States remains a net importer of palm oil; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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