Malaysia: Soybean Oil Market 2024

Soybean Oil Market Size in Malaysia

In 2022, the Malaysian soybean oil market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, enjoyed a significant expansion. Soybean oil consumption peaked in 2022 and is expected to retain growth in years to come.

Soybean Oil Production in Malaysia

In value terms, soybean oil production totaled $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Soybean oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Soybean Oil Exports

Exports from Malaysia

Soybean oil exports from Malaysia stood at X tons in 2022, growing by X% on 2021 figures. Over the period under review, exports, however, showed a slight reduction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, soybean oil exports soared to $X in 2022. In general, total exports indicated a mild increase 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 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The Philippines (X tons), Australia (X tons) and Indonesia (X tons) were the main destinations of soybean oil exports from Malaysia, together comprising X% of total exports. Singapore, New Zealand, Fiji, Papua New Guinea, Vietnam and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Fiji (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Australia ($X) and Indonesia ($X) constituted the largest markets for soybean oil exported from Malaysia worldwide, with a combined X% share of total exports. Singapore, New Zealand, Fiji, Papua New Guinea, Vietnam and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

Fiji, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average soybean oil export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, export price indicated a moderate expansion 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, soybean 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%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Fiji ($X per ton) and Australia ($X per ton), while the average price for exports to Vietnam ($X per ton) and the Philippines ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oil Imports

Imports into Malaysia

Soybean oil imports into Malaysia rose slightly to X tons in 2022, picking up by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, soybean oil imports soared to $X in 2022. Overall, 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 2020 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Argentina (X tons) and Thailand (X tons) were the main suppliers of soybean oil imports to Malaysia, with a combined X% share of total imports. Brazil, Indonesia, Vietnam and Belarus lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Argentina ($X) and Thailand ($X) constituted the largest soybean oil suppliers to Malaysia, with a combined X% share of total imports. Brazil, Indonesia, Vietnam and Belarus lagged somewhat behind, together accounting for a further X%.

Indonesia, with a CAGR of X.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soybean oil import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price saw a measured increase. The growth pace was 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 see steady growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Belarus ($X per ton) and China ($X per ton), while the price for Indonesia ($X per ton) and Argentina ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :