South-Eastern Asia: Groundnut Oil Market 2024

Groundnut Oil Market Size in South-Eastern Asia

The Southeast Asian groundnut oil market contracted slightly to $X in 2022, waning by X% against the previous year. In general, consumption, however, continues to indicate a perceptible decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Groundnut Oil Production in South-Eastern Asia

In value terms, groundnut oil production fell modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Groundnut Oil Exports

Exports in South-Eastern Asia

Groundnut oil exports shrank notably to X tons in 2022, waning by X% on the previous year's figure. In general, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2013 when exports increased by X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, groundnut oil exports dropped rapidly to $X in 2022. Over the period under review, exports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Indonesia (X tons), committing a X% share of total exports. The following exporters - Vietnam (X tons) and Thailand (X tons) - together made up X% of total exports.

Exports from Malaysia increased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) illustrated a downward trend over the same period. Malaysia (X p.p.), Vietnam (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) remains the largest groundnut oil supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia totaled X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated pronounced growth 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, groundnut oil export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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 Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Groundnut Oil Imports

Imports in South-Eastern Asia

After four years of decline, overseas purchases of groundnut oil increased by X% to X tons in 2022. Overall, imports, however, showed a deep downturn. The growth pace was the most rapid in 2017 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, groundnut oil imports expanded sharply to $X in 2022. Over the period under review, imports, however, continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia represented the largest importer of groundnut oil in South-Eastern Asia, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Singapore (X tons) held the second position in the ranking, followed by Vietnam (X tons). All these countries together took approx. X% share of total imports.

Imports into Malaysia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported groundnut oil in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports.

In Malaysia, groundnut oil imports decreased by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Vietnam (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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