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Chemically modified fats and oils: top exporters and importers (2024)

In 2024, world trade in chemically modified fats and oils totaled $10.3 billion (10.3 million tonnes). The top exporters were China (26%), Malaysia (12%) and the Netherlands (10%); the top importers were the United States (24%), the Netherlands (20%) and Singapore (11%). Compared with 2019, the value rose 112%.

Summary

World trade
$10.3billion
Tonnes
10.3million tonnes
Price per tonne
$998
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. China$2.6 billion · 25.6%
  2. Malaysia$1.2 billion · 11.6%
  3. Netherlands$1 billion · 10.1%
    re-exports
  4. Belgium$549 million · 5.4%
    re-exports
  5. Indonesia$468 million · 4.6%
  6. Germany$401 million · 3.9%
  7. Poland$306 million · 3%
  8. United Kingdom$291 million · 2.8%
  9. Canada$257 million · 2.5%
  10. Spain$253 million · 2.5%
  11. United States$187 million · 1.8%
  12. France$154 million · 1.5%
  13. South Korea$140 million · 1.4%
  14. Sweden$136 million · 1.3%
  15. Japan$135 million · 1.3%
  16. Australia$132 million · 1.3%
  17. Italy$128 million · 1.3%
  18. Vietnam$120 million · 1.2%
  19. Saudi Arabia$104 million · 1%
  20. Argentina$86 million · 0.84%

Top importers

  1. United States$2.4 billion · 23.7%
  2. Netherlands$2.1 billion · 20.3%
    re-exports
  3. Singapore$1.1 billion · 11.1%
    re-exports
  4. Spain$751 million · 7.3%
  5. Malaysia$534 million · 5.2%
  6. Germany$490 million · 4.8%
  7. Belgium$419 million · 4.1%
    re-exports
  8. United Kingdom$297 million · 2.9%
  9. Finland$268 million · 2.6%
  10. France$229 million · 2.2%
  11. Sweden$208 million · 2%
  12. Austria$136 million · 1.3%
  13. Portugal$129 million · 1.3%
  14. Italy$101 million · 0.98%
  15. South Korea$97 million · 0.94%
  16. Hungary$88 million · 0.86%
  17. Poland$76 million · 0.74%
  18. Chile$70 million · 0.68%
  19. Norway$61 million · 0.59%
  20. Czechia$58 million · 0.56%

Trend

Who sells it

China has been the top exporter since 2021

Value in USD billions. The five largest exporters in 2024.

  • China 2.6
  • Malaysia 1.2
  • Netherlands 1
  • Belgium 0.55
  • Indonesia 0.47

Source: CEPII BACI

Show the numbers
Country19952024
China< 0.012.6
Malaysia< 0.011.2
Netherlands0.041
Belgium0.010.55
Indonesia< 0.010.47

Price

Implied price

The price per tonne rose 62% since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $998

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$616
1996$626
1997$561
1998$548
1999$311
2000$374
2001$377
2002$308
2003$533
2004$649
2005$635
2006$602
2007$803
2008$1,065
2009$736
2010$909
2011$1,127
2012$869
2013$1,062
2014$980
2015$771
2016$787
2017$873
2018$813
2019$785
2020$896
2021$1,166
2022$1,443
2023$1,187
2024$998

What it includes

  • 1518 · Chemically modified fats and oils

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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