Abstract
The vegetable oil industry has witnessed significant growth over the past few
years on account of a growing population as well as the rising demand for
alternative energy sources. Among the various types of vegetable oil, palm oil
(including palm kernel) accounted for the largest share of the global
production in 2007, followed by soybean and rapeseed oil. Of the available
vegetable oils, palm oil is the most productive and has the lowest cost of
production, thus accounting for the major share of the global vegetable oil
output. In recent years, the rising health concerns have also accelerated the
demand for palm oil, particularly in the developed markets.
Palm oil use is broadly separated into food and non-food categories. The
product is mainly used as cooking oil but is also increasingly being used in
the preparation of other food articles. As a non-food ingredient, the product
finds application in the production of cosmetics, toiletries, soaps and
detergents. Although, FMCG is the largest market, the utilization of palm oil
for the production of biodiesel has been growing steadily. Apart form this,
the switch of consumers from loose oil to packed oil, particularly in emerging
markets, is also expected to boost the palm oil industry' s growth in the
future.
Geographically, Indonesia and Malaysia are the largest producers of palm oil,
while China and the EU are the largest consumers. In Europe, Germany is the
largest producer of palm oil, followed by France and Italy. The emerging
markets, like China, India and Indonesia consume more than 80% of palm oil.
Due to rising population and increasing income, the emerging markets including
China and India are anticipated to record an increase in demand for palm oil.
On the whole, the report analyzes the growth drivers and challenges of the
palm oil industry and assesses opportunities available for the players. The
report focuses on the production capacity, government initiatives, challenges
and future potential of the three large producers of palm oil - Indonesia,
Malaysia and Colombia. Further, the report analyzes the top palm oil companies
- PT Astra Agro Lestari, IOI Corporation and Wilmar International.
Table of Contents
1. Global Vegetable Oil Market
2. Palm Oil Market: An Overview
- 2.1 Introduction to Palm Oil
- 2.2 Value Chain Analysis
- 2.3 Market Overview
- 2.3.1 Production & Exports
- 2.2.2 Consumption & Imports
- 2.4 Indonesian Palm Oil Market
- 2.5 Malaysian Palm Oil Market
- 2.6 Colombian Palm Oil Market
3. Growth Drivers
- 3.1 Demand from Emerging Markets
- 3.2 Increased Usage in Developed Markets
- 3.3 Competitive Advantage over Other Vegetable Oils
- 3.4 Growing Health Concern (Removal of TFA)
4. Market Challenges
- 4.1 Limited Scope for Expanding Palm Areas
- 4.2 Fertilizer Costs
- 4.3 Demand for Sustainable Palm Oil
5. Palm Oil Bio-diesel - Growth Opportunity
6. Company Profiles
- 6.1 PT Astra Agro
- 6.1.1 Company Description
- 6.1.2 Sales Analysis
- 6.1.3 Business Developments
- 6.2 Wilmar International
- 6.2.1 Company Description
- 6.2.2 Sales Analysis
- 6.2.3 Business Developments
- 6.3 IOI Corporation
- 6.3.1 Company Description
- 6.3.2 Sales Analysis
- 6.3.3 Business Developments
7. Industry Outlook
- 7.1 Market Forecast
- 7.2 Forecast Methodology
- 7.2.1 Independent Variables
- 7.2.2 Correlation (Dependent & Independent Variables)
- 7.2.3 Regression Analysis
List of Figures
- Figure 1.1 Global Vegetable Oil Production: 2001 - 2008
- Figure 1.2 Global Vegetable Oil Production: Share by Types (2007)
- Figure 1.3 Global Vegetable Oil Market; Actual & Forecasted Growth:
(1996-2005) & (2006-2015E)
- Figure 2.1 Palm Oil Value Chain
- Figure 2.2 Global Palm Oil Production: 2002 - 2008E
- Figure 2.3 Global Palm Oil Plantation (Million Ha): 1999 - 2008E
- Figure 2.4 Major Producers of Palm Oil: Geographical Segmentation (2007)
- Figure 2.5 Major Consumers of Palm Oil: Geographical Segmentation (2007)
- Figure 2.6 Indonesia: Palm Oil Area & Production (2002 - 2009E)
- Figure 2.7 Indonesia Palm Oil Production: Regional Segmentation (2007)
- Figure 2.8 Indonesia: Annual Palm Area Growth (2000 - 2009)
- Figure 2.9 Indonesia: Palm Area Growth by Owner (2008)
- Figure 2.9 Indonesia: Palm Area by Owner (2008)
- Figure 2.10 Malaysia CPO Production: 2007 - 2008
- Figure 2.11 Malaysia Palm Area Growth: 2007- 2008
- Figure 2.12 Malaysia Total Exports of Palm Oil Products: 2007 - 2008
- Figure 2.13 Malaysia Total Exports (Tonnes) of Biodiesel: 2007 - 2008
- Figure 2.14 Colombia: Palm Oil Production (2002 - 2007)
- Figure 2.15 Colombia Palm Oil Production: Regional Segmentation
- Figure 3.1 Emerging Markets: Palm Oil Consumption (2007/8E)
- Figure 3.2 Emerging Countries GDP Per Capita (US$): 2007
- Figure 3.3 Vegetable Oil: Average Oil Yield (2007)
- Figure 3.4 Planted Crop Area (2007)
- Figure 3.5 Production of Major Vegetable Oil (2007)
- Figure 4.1 Annual Oil Consumption (Excluding Bio-fuel): Actual & Forecasted
- Figure 4.2 Fertilizer Costs as a (%) of Estate (Variable) Costs (2006/7
- 2008/9E)
- Figure 5.1 Global Bio-diesel Production; 2005-2010E
- Figure 5.2 Share of Inputs in Global Bio-diesel Production; 2010E
- Figure 6.1 PT Astra Agro: Revenue Growth (2005 - 2008)
- Figure 6.2 PT Astra Agro: Revenue by Segment (2008)
- Figure 6.3 Wilmar International: Revenue Growth (2005 - 2008)
- Figure 6.4 Wilmar International: Revenue by Business Segments (2008)
- Figure 6.5 IOI Corporation: Revenue Growth (2005 - 2008)
- Figure 6.6 IOI Corporation, Revenue by Business Segments (2008)
- Figure 6.7 IOI Corporation: Total Oil Palm Area by Age (2008)
- Figure 7.1 Global Palm Oil Production: Growth Forecast (2009 - 2011F)
List of Tables
- Table 2.1 World Major Producers of Palm Oil: 2002 - 2007 (' 000 Tonnes)
- Table 2.2 Major Exporters of Palm Oil: 2002 - 2007 (' 000 Tonnes)
- Table 2.3 Major Importers of Palm Oil: 2002 - 2007 (' 000 Tonnes)
- Table 2.4 Indonesia CPO Production: Actual & Estimated (2005 & 2010F)
- Table 2.5 Malaysia Palm Oil Production; By Segments: 2007 - 2008
- Table 2.6 Malaysia Palm Crop Output Yield: 2007 - 2008
- Table 3.1 Consumption Growth (MT): Actual & Estimated
- Table 3.2 Consumption Growth (MT) of Palm Oil (Developed Countries):
Actual & Estimated
- Table 3.3 Vegetable Oils Production (MT)
- Table 4.1 Palm Oil Production (MT): Actual & Forecasted (2002/3 -
2007-8E)
- Table 4.2 Estate Costs for Larger Producers (Costs are up >40% in Under 12
Months)
- Table 5.1 Bio-fuel Policies in Key Regions
- Table 5.2 Estimated Cost of Producing Malaysian Palm Bio-Diesel for Export
(2007)
- Table 6.1 PT Astra Agro: Plantation Areas in Production (March 31st, 2009)
- Table 6.2 Wilmar International: Plantation Age Profile (December 31st,
2008)
- Table 6.3 IOI Corporation: Plantation Area (2008)
- Table 7.1 Dependent & Independent Variables (1998 - 2008)
- Table 7.2 Correlation Analysis
- Table 7.3 Model Summary - Coefficient of Determination
- Table 7.4 Regression Coefficients
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