Refined palm oil and fractions market in Denmark

Earlier Report Observations

From 2018 to 2020, the Danish refined palm oil market volume fell by nearly 17%, reaching 167.7 thousand tons. The most significant drop occurred in 2020 when the COVID-19 pandemic disrupted global supply chains, affecting import logistics and availability. Earlier, consumer preferences had shifted towards sustainable and traceable products, and niche segments like fractionated palm oil fractions gained attention, but these trends did not prevent the overall decline.

The market rebounded in 2021, with volume rising to 175.5 thousand tons. This recovery was supported by growing investments in traceability systems and sustained demand for fractionated palm oil in food and biofuel applications. However, volume fell again in 2022 to 161.1 thousand tons as increased EU-level regulatory scrutiny on palm oil sustainability and deforestation influenced import practices and market access.

After a further decline to 147.3 thousand tons in 2023, the market volume recovered to 169.4 thousand tons in 2024. This brought the 2024 volume close to the 2021 level, though still below the 2018 peak of 201.7 thousand tons.

Production refined palm oil and fractions in Denmark

In value, 2018-2021, M $ US

After a two-year decline, Denmark's production of refined palm oil and fractions has rebounded. In 2021, output reached 140.8 million US dollars, marking a significant 39.8% increase compared to 2020. Over the period from 2018 to 2021, production grew by 21.1%, with an average annual growth rate of 6.6%. The lowest value was recorded in 2020 at 100.7 million US dollars, which also saw the largest decline of 7.3%.

Annual dynamics of production in Denmark in value, 2018-2021, M $ US

In kind, 2018-2021, K t

Following a two-year drop, refined palm oil and fractions production in Denmark has shown an uptick. In 2021, Denmark produced 87.1 thousand tonnes, representing a modest 7.7% rise from 2020. However, over the 2018-2021 period, overall production decreased by 17.4%, with an average annual decline of 6.2%. The lowest volume was in 2020 at 80.9 thousand tonnes, which experienced the steepest drop of 22.4%.

Annual dynamics of production in Denmark in kind, 2018-2021, K t

Exports refined palm oil and fractions from Denmark

Exports in kind, K t

After two years of losses, Denmark's exports of refined palm oil and fractions have increased. In 2021, the country exported 87.0 thousand tonnes, up by 4.2% from the previous year. From 2018 to 2021, exports fell by 18.6%, translating to an average annual decrease of 6.6%. The lowest export volume was in 2020 at 83.5 thousand tonnes, which saw the largest decline of 21.7%.

Annual dynamics of product's exports from Denmark in kind, 2018-2021, K t

Between 2018 and 2021, Sweden, the Netherlands, and Uruguay were the top destinations for Denmark's exports of refined palm oil and fractions by volume. Sweden accounted for 47.1% of exports, the Netherlands for 24.7%, and Uruguay for 9.7%. Together, these three countries made up 81.5% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Denmark in kind, 2018-2021

Exports in value, M $ US

Following a two-year downturn, Denmark's exports of refined palm oil and fractions have surged. In 2021, export value reached 141.9 million US dollars, a sharp 36.1% increase compared to 2020. Over the 2018-2021 period, exports grew by 18.9%, with an average annual growth rate of 5.9%. The lowest value was in 2020 at 104.3 million US dollars, which recorded the largest decline of 6.9%.

Annual dynamics of product's exports from Denmark in value, 2018-2021, M $ US

From 2018 to 2021, Sweden, the Netherlands, and Uruguay remained the primary buyers of refined palm oil and fractions from Denmark in value terms. Sweden represented 42.2% of exports, the Netherlands 25.7%, and Uruguay 12.3%. Collectively, these three countries accounted for 80.1% of total export value.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Denmark in value, 2018-2021

Imports refined palm oil and fractions to Denmark

Imports in kind, K t

After a two-year decline, Denmark's imports of refined palm oil and fractions have risen. In 2021, import volume stood at 175.3 thousand tonnes, a 3.0% increase from 2020. Over the 2018-2021 period, imports decreased by 13.6%, with an average annual decline of 4.8%. The lowest volume was in 2020 at 170.2 thousand tonnes, which saw the largest drop of 14.5%.

Annual dynamics of product's imports to Denmark in kind, 2018-2021, K t

Between 2018 and 2021, Malaysia, Indonesia, and Germany were the main suppliers of refined palm oil and fractions to Denmark by volume. Malaysia contributed 30.3% of imports, Indonesia 29.7%, and Germany 22.2%. Together, these three countries represented 82.2% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Denmark in kind, 2018-2021

Imports in value, M $ US

Following two years of losses, Denmark's imports of refined palm oil and fractions have increased. In 2021, import value was recorded at 204.4 million US dollars, a 38.7% rise from the previous year. Over the 2018-2021 period, imports grew by 19.2%, with an average annual growth rate of 6.0%. The lowest value was in 2020 at 147.3 million US dollars, while the largest decline occurred in 2019 at 13.1%.

Annual dynamics of product's imports to Denmark in value, 2018-2021, M $ US

From 2018 to 2021, Malaysia, Indonesia, and Germany remained the leading sources of refined palm oil and fractions for Denmark in value terms. Malaysia accounted for 31.0% of imports, Indonesia for 27.3%, and Germany for 22.4%. Combined, these three countries made up 80.6% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Denmark in value, 2018-2021