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EU palm oil demand continues to decline, partly due to European regulations requiring proof that supply chains are deforestation-free, according to European Commission import figures reported by Germany's Union for the Promotion of Oil and Protein Plants (UFOP).
Between 1 July and 10 December 2024, the EU-27 imported just under 1.4 million tonnes of palm oil, down 16% compared with the same period in 2023.
Indonesia remained the most important source country for palm oil, shipping just under 476,000 tonnes, or 35% of the total, followed by Malaysia with 286,000 tonnes. In both cases, delivery volumes were significantly lower than in the same period of 2023, according to a report published on 19 December.
With an 8% rise in imports to 478,000 tonnes, Italy imported the largest quantity of palm oil. The Netherlands ranked as the second-largest importer, serving as a central hub for re-exports to other member states as well as a key site for European biofuel production, UFOP reported.
Palm oil imports into the Netherlands fell 11% year-on-year to 414,000 tonnes.
Spain recorded the sharpest decline, with imports nearly halving to 140,000 tonnes, while Sweden's imports dropped by around 39%.
By contrast, several EU member states increased their imports, including Greece, France, Denmark and Germany, according to research by the Agricultural Market Information Company.
Germany, which imported 115,000 tonnes, recorded a 32% rise in palm oil imports compared with the same period the previous year.
UFOP noted that increased imports of used cooking oils have reduced palm oil volumes in most member states.
Source: Al Mal Forum