South-Eastern Asia: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in South-Eastern Asia

The Southeast Asian soybean oilcake market skyrocketed to $X in 2021, picking up by 34% against the previous year. The market value increased at an average annual rate of +4.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Soybean Oilcake Production in South-Eastern Asia

In value terms, soybean oilcake production surged to $X in 2021 estimated in export price. Overall, production, however, saw a deep contraction. The pace of growth was the most pronounced in 2019 when the production volume increased by 45% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Soybean Oilcake Exports

Exports in South-Eastern Asia

Soybean oilcake exports amounted to X tons in 2021, leveling off at the previous year. Overall, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 51% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, soybean oilcake exports surged to $X in 2021. In general, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 61%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Thailand represented the major exporting country with an export of about X tons, which accounted for 48% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a 26% share, followed by Malaysia (21%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +75.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) emerged as the largest soybean oilcake supplier in South-Eastern Asia, comprising 53% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 23% share of total exports. It was followed by Malaysia, with a 19% share.

In Thailand, soybean oilcake exports expanded at an average annual rate of +74.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+6.2% per year) and Malaysia (-0.4% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, surging by 21% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Thailand ($X per ton) and Indonesia ($X per ton), while Vietnam ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.4%), while the other leaders experienced a decline in the export price figures.

Soybean Oilcake Imports

Imports in South-Eastern Asia

In 2021, soybean oilcake imports in South-Eastern Asia amounted to X tons, surging by 6.5% compared with 2020. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when imports increased by 12% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, soybean oilcake imports surged to $X in 2021. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X tons) and Vietnam (X tons) represented the largest importers of soybean oilcake in 2021, recording approx. 30% and 28% of total imports, respectively. It was distantly followed by Thailand (X tons), the Philippines (X tons) and Malaysia (X tons), together constituting a 39% share of total imports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +35.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 73% of total imports. These countries were followed by the Philippines, Malaysia and Myanmar, which together accounted for a further 25%.

Among the main importing countries, Myanmar, with a CAGR of +34.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 20% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Philippines ($X per ton) and Myanmar ($X per ton), while Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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