ASEAN: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in ASEAN

The ASEAN refined rapeseed oil market rose significantly to $X in 2022, surging by X% against the previous year. In general, consumption, however, saw a pronounced downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Refined Rapeseed Oil Production in ASEAN

In value terms, refined rapeseed oil production reached $X in 2022 estimated in export price. In general, production, however, recorded a pronounced slump. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Refined Rapeseed Oil Exports

Exports in ASEAN

In 2022, overseas shipments of refined rape, colza or mustard oil decreased by X% to X tons, falling for the third consecutive year after eight years of growth. Total exports indicated a remarkable increase from 2012 to 2022: its volume 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, exports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined rapeseed oil exports soared to $X in 2022. Over the period under review, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Malaysia (X tons) was the key exporter of refined rape, colza or mustard oil, making up X% of total exports. It was distantly followed by Singapore (X tons), achieving a X% share of total exports.

Malaysia was also the fastest-growing in terms of the refined rape, colza or mustard oil exports, with a CAGR of X% from 2012 to 2022. Singapore experienced a relatively flat trend pattern. From 2012 to 2022, the share of Malaysia increased by X percentage points.

In value terms, Malaysia ($X) remains the largest refined rapeseed oil supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

In Malaysia, refined rapeseed oil exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated notable growth 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, refined rapeseed oil export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%).

Refined Rapeseed Oil Imports

Imports in ASEAN

After two years of decline, overseas purchases of refined rape, colza or mustard oil increased by X% to X tons in 2022. In general, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, refined rapeseed oil imports skyrocketed to $X in 2022. Overall, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Philippines (X tons) and Malaysia (X tons) represented roughly X% of total imports in 2022. Singapore (X tons) held the next position in the ranking, distantly followed by Indonesia (X tons). All these countries together held near X% share of total imports. The following importers - Vietnam (X tons) and Thailand (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Malaysia ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

The Philippines, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a temperate 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, refined rapeseed oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Indonesia ($X per ton) and Thailand ($X per ton), while the Philippines ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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