EU palm oil imports continue to decline

In the period 1 July-10 December 2024, the EU-27 imported just less than 1.4M tonnes of palm oil, a 16% decrease compared to the same period in 2023.

Indonesia remained the most important country of origin, exporting just under 476,000 tonnes and accounting for 35% of the total, followed by Malaysia with 286,000 tonnes. In both cases, delivery volumes fell significantly short of those recorded for the same period in 2023, the 19 December report said.

With an 8% increase in imports to 478,000 tonnes, Italy imported the largest volume. The Netherlands was the second largest importer, acting as a central hub for onward export to other member states, as well as a key location for European biofuel production, UFOP said.

Palm oil imports to the Netherlands dropped by 11% compared to the previous year to 414,000 tonnes.

Spain recorded the sharpest decline, more than halving its imports to 140,000 tonnes, while Sweden’s imports decreased by around 39%.

Meanwhile, several other EU member states increased imports, including Greece, France, Denmark and Germany, according to research by Agrarmarkt Informations-Gesellschaft.

Importing 115,000 tonnes, Germany recorded a 32% rise in palm oil imports compared to the same period the previous year.

Increased imports of waste oils had led to a reduction in palm oil volumes in most member states, UFOP said.

Tags: demand, Indonesia, European Union, Malaysia, palm oil, deforestation, imports