Brazil's palm oil alternative, "Babassu Oil"

Brazil's palm oil alternative, "Babassu Oil"
 Palm oil is an essential edible oil used in cooking. That is why, it is a highly demanded product in the international market. Currently, the leading palm oil suppliers like Indonesia and Malaysia have restricted their exports of palm oil. This abrupted the supply chain of palm oil in the international market. Amid this palm oil shortage, Brazil's babassu has came out as the more sustainable alternative to palm oil. Brazil has rich reserves of babassu which could serve as an alternative to palm oil.

Brazil is currently the 13th biggest exporter of babassu oil. As per Brazil export data reports, around 5.8 million dollars worth of babassu oil was exported during the fiscal year 2021. The top importers of Brazil's babassu oil are the Netherlands, Paraguay, France, United Kingdom and the United States. The Netherlands holds over 75% share of Brazil's total babassu exports.


Whereas the latest Brazil customs data reflects that Brazil's babassu oil exports totaled to be $54 thousand dollars during June 2023. During this period, the Netherlands and China were the top babassu oil importers from Brazil. 


On the other hand, Brazil was the 3rd biggest babassu oil importer in the world. Brazil's overall babassu oil imports totaled to be $223 million Kgs in 2022. The top exporters of babassu oil to Brazil were Indonesia, Ecuador, Malaysia, Colombia and Peru. 


The latest Brazil import data of June 2023, Brazil's total babassu oil imports were estimated around $13 million. During this period, the top exporters of babassu oil to Brazil were Indonesia, Peru, France and Malaysia. Indonesia, Malaysia and Ecuador get a significant amount of increase in the exports of babassu oil to Brazil. The United States and China are the two major competitors for Brazil's babassu oil imports.


Brazil's palm kernel and babassu oil exports are growing at a rapid pace. As per the last year Brazil import export data of babassu oil, the exports increased by 97%. Argentina is currently the major contributor to over 70% of Brazil's total babassu oil exports. Paraguay and Uruguay are respectively 2nd & 3rd biggest babassu oil importers from Brazil. 


The major competitors to Brazil in babassu oil exporters are Paraguay, France and the United Kingdom. Whereas, the export to Germany, Netherlands and the United States declined gradually. As there is huge dependency on palm oil imports from Indonesia and Malaysia, countries can shift towards Brazil’s babassu oil exports. Brazil’s babassu oil exports might grow further in 2023. Currently, Indonesia, China and Malaysia hold over 65% share of the global babassu oil consumption. Brazil could pose a serious challenge to these nations in terms of babassu oil exports.


Exim Global trade intelligence system is the best available platform at a very reasonable cost offering various KPIs and reports on babassu oil imports and exports from over 200+ countries. Through the Global import export data provider reports, babassu oil suppliers from Brazil could reach out to the genuine buyers from the global market. It is the best available research tool that could help global import export companies boost their revenue.

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