Malaysia: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Malaysia

The Malaysian refined rapeseed oil market rose remarkably to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, showed a noticeable reduction. Refined rapeseed oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Rapeseed Oil Production in Malaysia

In value terms, refined rapeseed oil production reached $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible descent. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Refined rapeseed oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Rapeseed Oil Exports

Exports from Malaysia

In 2022, the amount of refined rape, colza or mustard oil exported from Malaysia rose to X tons, with an increase of X% compared with 2021 figures. In general, total exports indicated a prominent expansion 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 2020 indices. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, refined rapeseed oil exports surged to $X in 2022. Over the period under review, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The Philippines (X tons), New Zealand (X tons) and Australia (X tons) were the main destinations of refined rapeseed oil exports from Malaysia, with a combined X% share of total exports. Singapore, Fiji, Indonesia and Thailand lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for refined rapeseed oil exported from Malaysia were the Philippines ($X), New Zealand ($X) and Australia ($X), with a combined X% share of total exports. Singapore, Fiji, Indonesia and Thailand lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2022, the average refined rapeseed oil export price amounted to $X per ton, with an increase of X% against the previous year. Overall, export price indicated a perceptible increase 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 growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Indonesia ($X per ton) and New Zealand ($X per ton), while the average price for exports to Thailand ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Malaysia

In 2022, supplies from abroad of refined rape, colza or mustard oil increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports showed a prominent expansion. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, refined rapeseed oil imports skyrocketed to $X in 2022. In general, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest refined rapeseed oil supplier to Malaysia, accounting for a X% share of total imports. Moreover, refined rapeseed oil imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Australia (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and China (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of refined rape, colza or mustard oil to Malaysia, comprising X% of total imports. The second position in the ranking was held by Australia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average refined rapeseed oil import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price continues to indicate a measured increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :