South-Eastern Asia: Groundnuts Market 2024

Groundnuts Market Size in South-Eastern Asia

The Southeast Asian groundnuts market fell slightly to $X in 2022, reducing by -2% against the previous year. In general, consumption showed a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of 3.1% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Groundnuts Production in South-Eastern Asia

In value terms, groundnuts production dropped to $X in 2022 estimated in export price. Overall, production recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 4.4%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of groundnuts production was Myanmar (X tons), comprising approx. 55% of total volume. Moreover, groundnuts production in Myanmar exceeded the figures recorded by the second-largest producer, Indonesia (X tons), twofold. Vietnam (X tons) ranked third in terms of total production with a 15% share.

In Myanmar, groundnuts production expanded at an average annual rate of +1.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (-5.2% per year) and Vietnam (-0.9% per year).

The average groundnuts yield fell to X tons per ha in 2022, remaining stable against 2021 figures. Over the period under review, the yield saw a slight reduction. The pace of growth was the most pronounced in 2013 when the yield increased by 2.7% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2014 to 2022, the growth of the groundnuts yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of ground-nut (in-shell) production in South-Eastern Asia shrank to X ha, approximately reflecting 2021 figures. In general, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the harvested area increased by 1.9% against the previous year. The level of harvested area peaked at X ha in 2012; afterwards, it flattened through to 2022.

Groundnuts Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of ground-nut (in-shell) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 158%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, groundnuts exports stood at $X in 2022. Overall, exports saw mild growth. The most prominent rate of growth was recorded in 2019 with an increase of 112% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Lao People's Democratic Republic (X tons) was the key exporter of ground-nut (in-shell), comprising 52% of total exports. Vietnam (X tons) ranks second in terms of the total exports with an 18% share, followed by Myanmar (14%) and Indonesia (10%). Thailand (X tons) and Cambodia (X tons) followed a long way behind the leaders.

Exports from Lao People's Democratic Republic increased at an average annual rate of +8.6% from 2012 to 2022. At the same time, Myanmar (+91.7%), Thailand (+17.1%), Vietnam (+15.1%) and Cambodia (+3.4%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +91.7% from 2012-2022. Indonesia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Myanmar, Lao People's Democratic Republic, Vietnam and Thailand increased by +14, +9.8, +9.7 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Lao People's Democratic Republic ($X), Vietnam ($X) and Indonesia ($X) were the countries with the highest levels of exports in 2022, together accounting for 79% of total exports. Myanmar, Cambodia and Thailand lagged somewhat behind, together comprising a further 21%.

Myanmar, with a CAGR of +78.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, falling by -6.2% against the previous year. Overall, the export price saw a pronounced reduction. The growth pace was the most rapid in 2021 an increase of 7.8%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+15.7%), while the other leaders experienced mixed trends in the export price figures.

Groundnuts Imports

Imports in South-Eastern Asia

Groundnuts imports fell dramatically to X tons in 2022, waning by -35.8% on the year before. Overall, imports recorded a precipitous contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 54% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, groundnuts imports reduced notably to $X in 2022. In general, imports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of 41% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand represented the largest importing country with an import of about X tons, which finished at 68% of total imports. Vietnam (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (6.5%). Indonesia (X tons) and Singapore (X tons) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of +1.5% from 2012 to 2022. At the same time, Vietnam (+5.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +5.0% from 2012-2022. By contrast, Singapore (-14.7%), Malaysia (-20.5%) and Indonesia (-38.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and Vietnam increased by +62 and +15 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported ground-nut (in-shell) in South-Eastern Asia, comprising 58% of total imports. The second position in the ranking was held by Vietnam ($X), with a 20% share of total imports. It was followed by Malaysia, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand amounted to +1.9%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+5.9% per year) and Malaysia (-22.5% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, falling by -12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2020 an increase of 26%. The level of import peaked at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($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 (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :