Imports of palm oil to the EU continue to decline

Published Dec 23, 2024

Tridge summary

The European Union's demand for palm oil is declining due to regulations requiring proof of deforestation in supply chains. In the second half of 2024, imports of palm oil fell by 16% compared to the same period the previous year. Indonesia and Malaysia were the main suppliers, but volumes were lower than the previous year. While some EU countries increased their imports, others, such as Spain and Sweden, decreased significantly. The increase in imports of used oils has displaced palm oil in almost all EU states. The Oilseeds and Grains Promotion Union (UFOP) is calling for a revision of the limits on biofuels from waste oils to promote domestic biomethane production.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

EU demand for palm oil continues to decline, driven by EU requirements to prove deforestation in supply chains, according to the Oilseeds and Grains Promotion Union, founded by the German Farmers’ Association (UFOP). From July 1, 2024, to December 10, 2024, EU countries imported almost 1.4 mln tonnes of palm oil, which is 16% less than in the same period last year. Indonesia remains the most important country of origin with almost 476 thsd tonnes and a 35% share, followed by Malaysia with 286 thsd tonnes. In both cases, the volumes are significantly lower than last year. Italy imported the largest amount (up 8%) of 478 thsd tonnes of oil. The Netherlands is the second largest importer as a central hub for further exports. However, the Netherlands is also a center of European biofuel production. At the same time, the country purchased palm oil by about 11% less than in the same period last year (414 thousand tons). The largest decline was recorded in Spain, which reduced imports by ...

Source: UkrAgroConsult