South-Eastern Asia: Palm Oil Market 2025

Palm Oil Market Size in South-Eastern Asia

The Southeast Asian palm oil market skyrocketed to $X in 2022, jumping by 21% against the previous year. In general, consumption continues to indicate a strong expansion. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Palm Oil Production in South-Eastern Asia

In value terms, palm oil production rose to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Palm Oil Exports

Exports in South-Eastern Asia

In 2022, exports of palm oil in South-Eastern Asia declined to X tons, with a decrease of -11.9% on 2021. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 13% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, palm oil exports expanded slightly to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.8% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 52%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, Indonesia (X tons) was the key exporter of palm oil, achieving 60% of total exports. It was distantly followed by Malaysia (X tons), creating a 37% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of +12.9%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Indonesia ($X) remains the largest palm oil supplier in South-Eastern Asia, comprising 69% of total exports. The second position in the ranking was held by Malaysia ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia stood at +5.5%. In the other countries, the average annual rates were as follows: Malaysia (-2.5% per year) and Thailand (+15.4% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, surging by 18% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm oil export price increased by +112.2% against 2019 indices. The pace of growth was the most pronounced in 2021 when the export price increased by 45%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Palm Oil Imports

Imports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in overseas purchases of palm oil, which increased by 1.2% to X tons in 2022. In general, imports showed a modest increase. The growth pace was the most rapid in 2015 with an increase of 30% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, palm oil imports totaled $X in 2022. Over the period under review, imports recorded perceptible growth. The most prominent rate of growth was recorded in 2021 with an increase of 69%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The Philippines (X tons), Malaysia (X tons) and Vietnam (X tons) represented roughly 80% of total imports in 2022. Myanmar (X tons) held the next position in the ranking, distantly followed by Singapore (X tons). All these countries together held approx. 19% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +74.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Malaysia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, together comprising 76% of total imports. Myanmar and Singapore lagged somewhat behind, together comprising a further 23%.

Myanmar, with a CAGR of +76.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, increasing by 4% against the previous year. Over the period under review, the import price showed a slight expansion. The pace of growth was the most pronounced in 2021 an increase of 38% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

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 ($X per ton), while Malaysia ($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 (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :