Asia: Oleo Oils Market Overview 2021

Oleo Oils Market Size in Asia

In 2020, the Asian oleo oils market increased by X% to $X, rising for the third year in a row after two years of decline. The total consumption indicated a mild expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2012 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2015; however, from 2016 to 2020, consumption failed to regain the momentum.

Oleo Oils Production in Asia

In value terms, oleo oils production reached $X in 2020 estimated in export prices. Overall, production saw a modest increase. The growth pace was the most rapid in 2015 when the production volume increased by X% y-o-y. The level of production peaked at $X in 2016; however, from 2017 to 2020, production stood at a somewhat lower figure.

Production By Country in Asia

Malaysia (X tonnes) remains the largest oleo oils producing country in Asia, comprising approx. X% of total volume. Moreover, oleo oils production in Malaysia exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (X tonnes), fivefold. Georgia (X tonnes) ranked third in terms of total production with a X% share.

From 2007 to 2020, the average annual growth rate of volume in Malaysia amounted to +X%. The remaining producing countries recorded the following average annual rates of production growth: Taiwan (Chinese) (+X% per year) and Georgia (-X% per year).

Oleo Oils Exports

Exports in Asia

In 2020, shipments abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil increased by X% to X tonnes, rising for the second year in a row after two years of decline. Overall, exports, however, recorded a noticeable reduction. The pace of growth appeared the most rapid in 2015 when exports increased by X% y-o-y. The volume of export peaked at X tonnes in 2016; however, from 2017 to 2020, exports failed to regain the momentum.

In value terms, oleo oils exports fell to $X in 2020. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, exports hit record highs at $X in 2016; however, from 2017 to 2020, exports remained at a lower figure.

Exports by Country

Malaysia was the main exporter of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Asia, with the volume of exports reaching X tonnes, which was approx. X% of total exports in 2020. It was distantly followed by South Korea (X tonnes), creating a X% share of total exports. The following exporters - Singapore (X tonnes), Turkey (X tonnes) and the Philippines (X tonnes) - each reached a X% share of total exports.

From 2007 to 2020, average annual rates of growth with regard to oleo oils exports from Malaysia stood at +X%. At the same time, South Korea (+X%), Singapore (+X%), the Philippines (+X%) and Turkey (+X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of +X% from 2007-2020. While the share of Malaysia (+X p.p.), South Korea (+X p.p.) and Singapore (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Malaysia, oleo oils exports increased at an average annual rate of +X% over the period from 2007-2020. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+X% per year) and Singapore (+X% per year).

Export Prices by Country

The oleo oils export price in Asia stood at $X per tonne in 2020, reducing by -X% against the previous year. Over the period under review, the export price, however, posted pronounced growth. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. As a result, export price attained the peak level of $X per tonne. From 2018 to 2020, the growth in terms of the export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Singapore ($X per tonne), while the Philippines ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Turkey, while the other leaders experienced a decline in the export price figures.

Oleo Oils Imports

Imports in Asia

In 2020, purchases abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil increased by X% to X tonnes, rising for the second consecutive year after two years of decline. In general, imports, however, saw a deep setback. The growth pace was the most rapid in 2009 when imports increased by X% against the previous year. The volume of import peaked at X tonnes in 2010; however, from 2011 to 2020, imports remained at a lower figure.

In value terms, oleo oils imports shrank to $X in 2020. Over the period under review, imports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2020, the growth imports remained at a somewhat lower figure.

Imports by Country

Nepal was the largest importer of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Asia, with the volume of imports finishing at X tonnes, which was approx. X% of total imports in 2020. South Korea (X tonnes) occupied a X% share (based on tonnes) of total imports, which put it in second place, followed by Saudi Arabia (X%), Indonesia (X%) and Lebanon (X%). Hong Kong SAR (X tonnes), India (X tonnes), China (X tonnes), Azerbaijan (X tonnes), Viet Nam (X tonnes), Iraq (X tonnes), Singapore (X tonnes) and Japan (X tonnes) followed a long way behind the leaders.

From 2007 to 2020, the biggest increases were in Azerbaijan (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Nepal ($X) and China ($X) were the countries with the highest levels of imports in 2020, together accounting for X% of total imports. Lebanon, Saudi Arabia, Hong Kong SAR, Japan, Iraq, Indonesia, Singapore, Viet Nam, India and Azerbaijan lagged somewhat behind, together comprising a further X (+X% per year) recorded the highest rates of growth with regard to 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 oleo oils import price in Asia stood at $X per tonne in 2020, declining by -X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by X% y-o-y. As a result, import price attained the peak level of $X per tonne. From 2014 to 2020, the growth in terms of the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was China ($X per tonne), while Azerbaijan ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Asia?

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Malaysia (31K tonnes) constituted the country with the largest volume of oleo oils consumption, comprising approx. 77% of total volume. Moreover, oleo oils consumption in Malaysia exceeded the figures recorded by the second-largest consumer, Taiwan (Chinese) (6.7K tonnes), fivefold.

What are the largest producers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Asia?

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Malaysia (34K tonnes) constituted the country with the largest volume of oleo oils production, comprising approx. 78% of total volume. Moreover, oleo oils production in Malaysia exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (6.7K tonnes), fivefold. Georgia (936 tonnes) ranked third in terms of total production with a 2.1% share.

What are the leading suppliers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Asia?

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In value terms, Malaysia ($1.9M) remains the largest oleo oils supplier in Asia, comprising 56% of total exports. The second position in the ranking was occupied by South Korea ($924K), with a 28% share of total exports. It was followed by Singapore, with a 6.8% share.

What are the leading importers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Asia?

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In value terms, the largest oleo oils importing markets in Asia were South Korea ($311K), Nepal ($211K) and China ($88K), with a combined 49% share of total imports. These countries were followed by Lebanon, Saudi Arabia, Hong Kong SAR, Japan, Iraq, Indonesia, Singapore, Viet Nam, India and Azerbaijan, which together accounted for a further 37%.

What is the average export price for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Asia?

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In 2020, the oleo oils export price in Asia amounted to $782 per tonne, waning by -17.1% against the previous year.

What is the average import price for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Asia?

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The oleo oils import price in Asia stood at $1,195 per tonne in 2020, which is down by -11.7% against the previous year.