Eastern Asia: Oil Crops Market 2024

Oil Crops Market Size in Eastern Asia

For the third consecutive year, the East Asian oil crops market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Oil Crops Production in Eastern Asia

In value terms, oil crops production shrank to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

China (X tons) constituted the country with the largest volume of oil crops production, accounting for X% of total volume.

In China, oil crops production remained relatively stable over the period from 2012-2022.

The average oil crops yield contracted slightly to X tons per ha in 2022, approximately reflecting the previous year. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha, and then contracted modestly in the following year. 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 Eastern Asia; picking up by X% compared with the previous year. Overall, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

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Oil Crops Exports

Exports in Eastern Asia

In 2022, shipments abroad of oil crops (primary) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 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 stood at a somewhat lower figure.

In value terms, oil crops exports soared to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of oil crops (primary), namely China, represented more than two-thirds of total export.

China experienced a relatively flat trend pattern with regard to volume of exports of oil crops (primary). While the share of China (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest oil crops supplier in Eastern Asia.

In China, oil crops exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Oil Crops Imports

Imports in Eastern Asia

In 2022, imports of oil crops (primary) in Eastern Asia contracted to X tons, declining by X% on the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, oil crops imports skyrocketed to $X in 2022. Total imports indicated prominent growth 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 pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is 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. It was distantly followed by Japan (X tons), comprising a X% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the oil crops (primary) imports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

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

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared 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 the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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