Asia: Oil Crops Market 2024

Oil Crops Market Size in Asia

The Asian oil crops market totaled $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Oil Crops Production in Asia

In value terms, oil crops production fell modestly to $X in 2022 estimated in export price. The total production indicated a moderate expansion from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The country with the largest volume of oil crops production was Indonesia (X tons), comprising approx. X% of total volume. Moreover, oil crops production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (X tons), threefold. China (X tons) ranked third in terms of total production with a X% share.

In Indonesia, oil crops production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Malaysia (X% per year) and China (X% per year).

In 2022, the average oil crops yield in Asia stood at X tons per ha, flattening at the previous year. In general, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the yield increased by X%. Over the period under review, the oil crops yield attained the maximum level at X tons per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of oil crops (primary) were harvested in Asia; flattening at the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the harvested area dedicated to oil crops production attained the maximum at X ha in 2021, and then dropped modestly in the following year.

Oil Crops Exports

Exports in Asia

For the third consecutive year, Asia recorded decline in overseas shipments of oil crops (primary), which decreased by X% to X tons in 2022. Total exports indicated a strong 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 growth pace was the most rapid in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, oil crops exports expanded to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value 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 increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Kazakhstan (X tons), distantly followed by Indonesia (X tons), China (X tons), Thailand (X tons), India (X tons) and Turkey (X tons) represented the major exporters of oil crops (primary), together mixing up X% of total exports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest oil crops supplying countries in Asia were China ($X), India ($X) and Kazakhstan ($X), with a combined X% share of total exports. Turkey, Thailand, Indonesia and Myanmar lagged somewhat behind, together comprising a further X%.

Thailand, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Oil Crops Imports

Imports in Asia

In 2022, overseas purchases of oil crops (primary) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated tangible growth 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, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, oil crops imports stood at $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

China prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2022. Japan (X tons), Turkey (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), Bangladesh (X tons), Indonesia (X tons) and Iran (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to oil crops imports into China stood at X%. At the same time, Iran (X%), Bangladesh (X%), Turkey (X%), Taiwan (Chinese) (X%), Thailand (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Bangladesh increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported oil crops (primary) in Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and Turkey (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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