Eastern Asia: Oil Crops Market 2024

Oil Crops Market Size in Eastern Asia

For the third year in a row, the East Asian oil crops market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in the immediate term.

Oil Crops Production in Eastern Asia

In value terms, oil crops production dropped to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

China (X tons) constituted the country with the largest volume of oil crops production, comprising approx. X% of total volume.

In China, oil crops production remained relatively stable over the period from 2012-2022.

The average oil crops yield dropped slightly to X tons per ha in 2022, standing approx. at 2021. In general, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the yield reached the peak level of X tons per ha, and then dropped slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of oil crops (primary) were harvested in Eastern Asia; surging by X% against 2021 figures. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to oil crops production reached the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Oil Crops Exports

Exports in Eastern Asia

In 2022, overseas shipments of oil crops (primary) were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, oil crops exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, China (X tons) represented the major exporter of oil crops (primary) in Eastern Asia, creating X% of total export.

China experienced a relatively flat trend pattern with regard to volume of exports of oil crops (primary). China (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest oil crops supplier in Eastern Asia.

In China, oil crops exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Oil Crops Imports

Imports in Eastern Asia

In 2022, overseas purchases of oil crops (primary) decreased by X% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, oil crops imports totaled $X in 2022. Total imports indicated a prominent expansion 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 most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

China dominates imports structure, amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by Japan (X tons), constituting a X% share of total imports.

China was also the fastest-growing in terms of the oil crops (primary) imports, with a CAGR of X% from 2012 to 2022. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) constitutes the largest market for imported oil crops (primary) in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated a slight increase 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, oil crops import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%).

Source: IndexBox Platform

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