ASEAN: Groundnut Oil Market 2025

Groundnut Oil Market Size in ASEAN

In 2021, the ASEAN groundnut oil market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption continues to indicate a pronounced shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Groundnut Oil Production in ASEAN

In value terms, groundnut oil production rose sharply to $X in 2021 estimated in export price. Overall, production continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2015 with an increase of 46%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Groundnut Oil Exports

Exports in ASEAN

In 2021, the amount of groundnut oil exported in ASEAN contracted dramatically to X tons, shrinking by -35.6% against the previous year's figure. In general, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of 89%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, groundnut oil exports expanded modestly to $X in 2021. Overall, exports saw a pronounced contraction. The pace of growth appeared the most rapid in 2013 with an increase of 68% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Malaysia (X tons) was the key exporter of groundnut oil, creating 74% of total exports. Indonesia (X tons) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (11%).

Malaysia was also the fastest-growing in terms of the groundnut oil exports, with a CAGR of +17.8% from 2012 to 2021. At the same time, Vietnam (+1.9%) displayed positive paces of growth. By contrast, Indonesia (-11.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia and Vietnam increased by +64 and +5.5 percentage points, respectively.

In value terms, Malaysia ($X) remains the largest groundnut oil supplier in ASEAN, comprising 83% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 9.5% share of total exports.

In Malaysia, groundnut oil exports expanded at an average annual rate of +32.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+1.3% per year) and Indonesia (-5.6% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, increasing by 62% against the previous year. Export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, groundnut oil export price increased by +68.4% against 2019 indices. As a result, the export price attained the peak level 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 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+12.6%), while the other leaders experienced mixed trends in the export price figures.

Groundnut Oil Imports

Imports in ASEAN

For the third year in a row, ASEAN recorded decline in supplies from abroad of groundnut oil, which decreased by -8.5% to X tons in 2021. Overall, imports saw a deep reduction. The pace of growth appeared the most rapid in 2015 with an increase of 9.8%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, groundnut oil imports rose markedly to $X in 2021. In general, imports saw a drastic downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Malaysia (X tons) represented the key importer of groundnut oil, making up 65% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a 15% share, followed by Singapore (15%). Lao People's Democratic Republic (X tons) took a relatively small share of total imports.

Imports into Malaysia decreased at an average annual rate of -5.9% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+58.4%) and Vietnam (+43.3%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +58.4% from 2012-2021. By contrast, Singapore (-15.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam, Malaysia and Lao People's Democratic Republic increased by +14, +4.5 and +3.4 percentage points, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported groundnut oil in ASEAN, comprising 62% of total imports. The second position in the ranking was taken by Singapore ($X), with a 19% share of total imports. It was followed by Vietnam, with an 11% share.

In Malaysia, groundnut oil imports decreased by an average annual rate of -5.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (-12.7% per year) and Vietnam (+45.7% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, with an increase of 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform