South-Eastern Asia: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in South-Eastern Asia

In 2022, the Southeast Asian refined groundnut oil market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, showed a prominent expansion. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Refined Groundnut Oil Production in South-Eastern Asia

In value terms, refined groundnut oil production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Refined Groundnut Oil Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of refined groundnut oil decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, exports showed a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, refined groundnut oil exports contracted sharply to $X in 2022. Over the period under review, exports showed a abrupt descent. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Indonesia (X tons), comprising a X% share of total exports. Thailand (X tons) held a minor share of total exports.

Exports from Malaysia increased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (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. While the share of Malaysia (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.) displayed negative dynamics.

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

In Malaysia, refined groundnut oil exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Thailand (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 a modest 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, refined groundnut oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: 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 Indonesia (X%), while the other leaders experienced more modest paces of growth.

Refined Groundnut Oil Imports

Imports in South-Eastern Asia

In 2022, the amount of refined groundnut oil imported in South-Eastern Asia expanded sharply to X tons, growing by X% against 2021 figures. In general, imports, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refined groundnut oil imports rose remarkably to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia represented the major importer of refined groundnut oil in South-Eastern Asia, with the volume of imports recording X tons, which was near X% of total imports in 2022. Singapore (X tons) took the second position in the ranking, followed by Vietnam (X tons). All these countries together held near 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. From 2012 to 2022, the share of Vietnam and Singapore increased by X and X percentage points, respectively.

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

In Malaysia, refined 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, falling by X% against the previous year. Import price indicated noticeable 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, refined groundnut oil import price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2013 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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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