South-Eastern Asia: Oleo Oils Market 2024

Oleo Oils Market Size in South-Eastern Asia

In 2021, after two years of growth, there was decline in the Southeast Asian oleo oils market, when its value decreased by -2.2% to $X. The market value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Oleo Oils Production in South-Eastern Asia

In value terms, oleo oils production dropped to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 95% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Oleo Oils Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil decreased by -39.1% to X tons, falling for the fifth consecutive year after two years of growth. Over the period under review, exports saw a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of 6,469%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, oleo oils exports shrank markedly to $X in 2021. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 6,825%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Singapore (X tons) represented the largest exporter of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, creating 58% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 24% share, followed by the Philippines (11%) and Indonesia (5.9%).

From 2012 to 2021, average annual rates of growth with regard to oleo oils exports from Singapore stood at +9.0%. At the same time, the Philippines (+31.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +31.6% from 2012-2021. By contrast, Malaysia (-23.4%) and Indonesia (-30.3%) illustrated a downward trend over the same period. Singapore (+52 p.p.) and the Philippines (+11 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Malaysia saw its share reduced by -28.3% and -34.9% from 2012 to 2021, respectively.

In value terms, Singapore ($X), Malaysia ($X) and the Philippines ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 95% of total exports.

Among the main exporting countries, Singapore, with a CAGR of +9.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, with an increase of 9.8% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 67%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Malaysia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.3%), while the other leaders experienced mixed trends in the export price figures.

Oleo Oils Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil were imported in South-Eastern Asia; rising by 34% on 2020. Overall, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2014 with an increase of 54%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, oleo oils imports surged to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +76.5% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia represented the major importer of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in South-Eastern Asia, with the volume of imports reaching X tons, which was approx. 68% of total imports in 2021. It was distantly followed by Malaysia (X tons) and Singapore (X tons), together mixing up a 27% share of total imports. Thailand (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to oleo oils imports into Indonesia stood at +16.8%. At the same time, Singapore (+31.0%), Malaysia (+20.2%) and Thailand (+7.7%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +31.0% from 2012-2021. While the share of Indonesia (+32 p.p.), Malaysia (+13 p.p.) and Singapore (+4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in South-Eastern Asia, comprising 64% of total imports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total imports. It was followed by Singapore, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia stood at +14.3%. In the other countries, the average annual rates were as follows: Malaysia (+12.4% per year) and Singapore (+34.8% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, declining by -3.9% against the previous year. Overall, the import price saw a perceptible decline. The growth pace was the most rapid in 2013 when the import price increased by 7.2% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :