South-Eastern Asia: Vegetable Oils Market 2024

Vegetable Oils Market Size in South-Eastern Asia

The Southeast Asian vegetable oils market fell modestly to $X in 2022, which is down by X% against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Vegetable Oils Production in South-Eastern Asia

In value terms, vegetable oils production stood at $X in 2022 estimated in export price. In general, production, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Vegetable Oils Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of vegetable fats and oils were exported in South-Eastern Asia; growing by X% against the previous year. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vegetable oils exports expanded remarkably to $X in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Malaysia was the main exporter of vegetable fats and oils in South-Eastern Asia, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Indonesia (X tons), mixing up a X% share of total exports.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of vegetable fats and oils. At the same time, Indonesia (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. While the share of Indonesia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (X p.p.) displayed negative dynamics.

In value terms, the largest vegetable oils supplying countries in South-Eastern Asia were Malaysia ($X) and Indonesia ($X).

Indonesia, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%).

Vegetable Oils Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of vegetable fats and oils increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, vegetable oils imports surged to $X in 2022. In general, imports saw a modest increase. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia was the main importing country with an import of about X tons, which reached X% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a X% share, followed by Thailand (X%), the Philippines (X%) and Singapore (X%). Indonesia (X tons) held a minor share of total imports.

Malaysia was also the fastest-growing in terms of the vegetable fats and oils imports, with a CAGR of X% from 2012 to 2022. At the same time, the Philippines (X%), Vietnam (X%) and Singapore (X%) displayed positive paces of growth. By contrast, Thailand (X%) and Indonesia (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), Vietnam (X p.p.), the Philippines (X p.p.) and Singapore (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (X p.p.) and Thailand (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X), Thailand ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Malaysia, with a CAGR of X%, recorded the highest growth rate of 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, picking up by X% against the previous year. In general, the import price, however, showed a mild reduction. The growth pace was the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 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 the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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