Indonesia: Vegetable Oils Market 2024

Vegetable Oils Market Size in Indonesia

For the third consecutive year, the Indonesian vegetable oils market recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption faced a deep downturn. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Vegetable Oils Production in Indonesia

In value terms, vegetable oils production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Vegetable Oils Exports

Exports from Indonesia

In 2022, shipments abroad of vegetable fats and oils increased by X% to X tons, rising for the fourth consecutive year after two years of decline. Overall, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, vegetable oils exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Myanmar (X tons), China (X tons) and Thailand (X tons) were the main destinations of vegetable oils exports from Indonesia, with a combined X% share of total exports. The United States, Algeria, the Philippines, Vietnam, Nigeria and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Algeria (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X), China ($X) and the United States ($X) appeared to be the largest markets for vegetable oils exported from Indonesia worldwide, together comprising X% of total exports. Thailand, Algeria, the Philippines, Vietnam, Nigeria and Malaysia lagged somewhat behind, together comprising a further X%.

Algeria, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vegetable oils export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. 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 destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Oils Imports

Imports into Indonesia

In 2022, approx. X tons of vegetable fats and oils were imported into Indonesia; which is down by X% against the previous year's figure. Over the period under review, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2020 when imports increased by X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, vegetable oils imports surged to $X in 2022. In general, imports recorded a slight slump. The growth pace was the most rapid in 2020 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest vegetable oils supplier to Indonesia, with a X% share of total imports. Moreover, vegetable oils imports from Malaysia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and India (X% per year).

In value terms, Malaysia ($X), Singapore ($X) and India ($X) were the largest vegetable oils suppliers to Indonesia, with a combined X% share of total imports.

In terms of the main suppliers, India, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average vegetable oils import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, import price indicated moderate 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, vegetable oils import price increased by X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for India ($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 prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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