Asia: Oleo Oils Market 2022

Oleo Oils Market Size in Asia

In 2021, after seven years of growth, there was decline in the Asian oleo oils market, when its value decreased by -X% to $X. In general, consumption, however, continues to indicate a buoyant increase. The level of consumption peaked at $X in 2020, and then shrank slightly in the following year.

Oleo Oils Production in Asia

In value terms, oleo oils production fell modestly to $X in 2021 estimated in export price. Overall, production, however, posted a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2020, and then shrank in the following year.

Oleo Oils Exports

Exports in Asia

In 2021, overseas shipments of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil decreased by -X% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, oleo oils exports contracted modestly to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia was the key exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by South Korea (X tons), creating a X% share of total exports. Japan (X tons), China (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to oleo oils exports from Malaysia stood at +X%. At the same time, the Philippines (+X%), Japan (+X%) and South Korea (+X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +X% from 2012-2021. By contrast, China (-X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia, South Korea and Japan increased by +X, +X and +X percentage points, respectively. China (-X p.p.) saw their shares reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest oleo oils supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2021, the average annual growth rate of value in Malaysia stood at +X%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+X% per year) and Japan (+X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, approximately equating the previous year. Overall, the export price, however, showed a mild downturn. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the other leaders experienced a decline in the export price figures.

Oleo Oils Imports

Imports in Asia

In 2021, approx. X tons of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil were imported in Asia; which is down by -X% against the previous year's figure. Over the period under review, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, oleo oils imports declined remarkably to $X in 2021. Overall, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

South Korea was the major importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Nepal (X tons), Singapore (X tons), Hong Kong SAR (X tons), Malaysia (X tons) and Azerbaijan (X tons), together generating a X% share of total imports. Japan (X tons), the Philippines (X tons), India (X tons), Thailand (X tons), Turkey (X tons) and China (X tons) followed a long way behind the leaders.

Imports into South Korea increased at an average annual rate of +X% from 2012 to 2021. At the same time, Azerbaijan (+X%), Nepal (+X%), Thailand (+X%), Malaysia (+X%) and Hong Kong SAR (+X%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, Japan (-X%), Turkey (-X%), the Philippines (-X%), India (-X%) and China (-X%) illustrated a downward trend over the same period. While the share of South Korea (+X p.p.), Nepal (+X p.p.), Hong Kong SAR (+X p.p.), Azerbaijan (+X p.p.), Singapore (+X p.p.), Malaysia (+X p.p.) and Thailand (+X p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Turkey (-X p.p.), Japan (-X p.p.), the Philippines (-X p.p.), China (-X p.p.) and India (-X p.p.) displayed negative dynamics.

In value terms, the largest oleo oils importing markets in Asia were South Korea ($X), Hong Kong SAR ($X) and Japan ($X), with a combined X% share of total imports. Nepal, Thailand, Singapore, China, Malaysia, Turkey, the Philippines, Azerbaijan and India lagged somewhat behind, together accounting for a further X, with a CAGR of +X%, saw the highest growth rate of the value of imports, in terms of 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 Asia stood at $X per ton in 2021, growing by X% against the previous year. Overall, the import price, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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