ASEAN: Groundnut Oil Market 2024

Groundnut Oil Market Size in ASEAN

The ASEAN groundnut oil market declined slightly to $X in 2022, waning by X% against the previous year. Overall, consumption, however, showed a perceptible descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Groundnut Oil Production in ASEAN

In value terms, groundnut oil production fell to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable slump. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Groundnut Oil Exports

Exports in ASEAN

In 2022, overseas shipments of groundnut oil decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, groundnut oil exports contracted to $X in 2022. Over the period under review, exports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia prevails in exports structure, recording X tons, which was near X% of total exports in 2022. It was distantly followed by Indonesia (X tons), generating a X% share of total exports. The following exporters - Vietnam (X tons) and Thailand (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to groundnut oil exports from Malaysia stood at X%. At the same time, Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), Vietnam (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) remains the largest groundnut oil supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, groundnut oil export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the export price figures.

Groundnut Oil Imports

Imports in ASEAN

After four years of decline, overseas purchases of groundnut oil increased by X% to X tons in 2022. In general, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, groundnut oil imports rose markedly to $X in 2022. Over the period under review, imports, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia represented the main importer of groundnut oil in ASEAN, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Singapore (X tons) took the second position in the ranking, followed by Vietnam (X tons). All these countries together took near X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to groundnut oil imports into Malaysia stood at X%. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) constitutes the largest market for imported groundnut oil in ASEAN, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports.

In Malaysia, groundnut oil imports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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