South-Eastern Asia: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in South-Eastern Asia

The Southeast Asian crude groundnut oil market rose modestly to $X in 2022, growing by 4.7% against the previous year. Over the period under review, consumption, however, recorded a perceptible downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Groundnut Oil Production in South-Eastern Asia

In value terms, crude groundnut oil production expanded remarkably to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2020 when the production volume increased by 34%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Crude Groundnut Oil Exports

Exports in South-Eastern Asia

In 2022, crude groundnut oil exports in South-Eastern Asia soared to X tons, with an increase of 33% compared with 2021 figures. In general, exports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2013 with an increase of 398% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, crude groundnut oil exports soared to $X in 2022. Overall, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 525% 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

In 2022, Malaysia (X tons) represented the largest exporter of crude groundnut oil, committing 77% of total exports. It was distantly followed by Vietnam (X tons), making up a 19% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crude groundnut oil exports from Malaysia stood at -4.9%. At the same time, Vietnam (+4.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +4.9% from 2012-2022. By contrast, Indonesia (-13.2%) illustrated a downward trend over the same period. While the share of Vietnam (+19 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (-4.2 p.p.) and Malaysia (-15.3 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) remains the largest crude groundnut oil supplier in South-Eastern Asia, comprising 80% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 16% share of total exports.

In Malaysia, crude groundnut oil exports expanded at an average annual rate of +5.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+4.9% per year) and Indonesia (-11.9% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, waning by -6% against the previous year. Over the period under review, the export price, however, saw a strong increase. The pace of growth was the most pronounced in 2015 when the export price increased by 78%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Malaysia (+11.4%).

Crude Groundnut Oil Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of crude groundnut oil were imported in South-Eastern Asia; falling by -3.4% on the previous year's figure. Over the period under review, imports showed a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 33%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, crude groundnut oil imports reduced slightly to $X in 2022. Overall, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2019 with an increase of 25%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X tons) represented roughly 96% of total imports in 2022.

Malaysia was also the fastest-growing in terms of the crude groundnut oil imports, with a CAGR of -3.1% from 2012 to 2022. Malaysia (+54 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported crude groundnut oil in South-Eastern Asia.

In Malaysia, crude groundnut oil imports shrank by an average annual rate of -4.0% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 18% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Malaysia.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to -1.0% per year.

Source: IndexBox Platform

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