ASEAN: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in ASEAN

The ASEAN soybean oilcake market surged to $X in 2021, jumping by 34% against the previous year. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Soybean Oilcake Production in ASEAN

In value terms, soybean oilcake production surged to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2019 when the production volume increased by 46%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Soybean Oilcake Exports

Exports in ASEAN

In 2021, exports of soybean oilcake in ASEAN reached X tons, flattening at the previous year's figure. In general, exports posted resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 51% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, soybean oilcake exports soared to $X in 2021. Over the period under review, exports posted a prominent increase. The growth pace was the most rapid in 2014 with an increase of 61% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

Exports by Country

Thailand represented the largest exporting country with an export of around X tons, which recorded 48% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a 26% share, followed by Malaysia (21%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +75.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) emerged as the largest soybean oilcake supplier in ASEAN, comprising 53% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 23% share of total exports. It was followed by Malaysia, with a 19% share.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at +74.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+6.2% per year) and Malaysia (-0.4% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, with an increase of 21% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Thailand ($X per ton) and Indonesia ($X per ton), while Vietnam ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.4%), while the other leaders experienced a decline in the export price figures.

Soybean Oilcake Imports

Imports in ASEAN

In 2021, soybean oilcake imports in ASEAN expanded rapidly to X tons, surging by 6.5% on 2020 figures. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when imports increased by 12% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, soybean oilcake imports soared to $X in 2021. The total import value increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons) and Vietnam (X tons) represented the key importers of soybean oilcake in ASEAN, together finishing at approx. 58% of total imports. Thailand (X tons) took the next position in the ranking, followed by the Philippines (X tons) and Malaysia (X tons). All these countries together took approx. 39% share of total imports. Myanmar (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +35.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soybean oilcake importing markets in ASEAN were Indonesia ($X), Vietnam ($X) and Thailand ($X), together accounting for 73% of total imports. The Philippines, Malaysia and Myanmar lagged somewhat behind, together comprising a further 25%.

In terms of the main importing countries, Myanmar, with a CAGR of +34.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, jumping by 20% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Philippines ($X per ton) and Myanmar ($X per ton), while Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform