Southern Asia: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Southern Asia

The South Asian margarine and shortening market amounted to $X in 2022, remaining stable against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Margarine And Shortening Production in Southern Asia

In value terms, margarine and shortening production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable decline. The growth pace was the most rapid in 2020 with an increase of 37%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Margarine And Shortening Exports

Exports in Southern Asia

In 2022, margarine and shortening exports in Southern Asia rose sharply to X tons, with an increase of 6.7% compared with 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 71% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, margarine and shortening exports shrank modestly to $X in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 74% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, India (X tons) represented the major exporter of margarine and shortening, creating 64% of total exports. Sri Lanka (X tons) ranks second in terms of the total exports with a 19% share, followed by Pakistan (16%).

Exports from India decreased at an average annual rate of -1.7% from 2012 to 2022. At the same time, Pakistan (+17.2%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +17.2% from 2012-2022. By contrast, Sri Lanka (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Pakistan increased by +13 percentage points.

In value terms, India ($X) remains the largest margarine and shortening supplier in Southern Asia, comprising 69% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value in India was relatively modest. In the other countries, the average annual rates were as follows: Sri Lanka (+3.7% per year) and Pakistan (+14.8% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, falling by -7.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 an increase of 22% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+6.7%), while the other leaders experienced mixed trends in the export price figures.

Margarine And Shortening Imports

Imports in Southern Asia

In 2022, approx. X tons of margarine and shortening were imported in Southern Asia; reducing by -15.8% compared with the previous year's figure. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 58%. As a result, imports reached the peak of X tons, and then fell markedly in the following year.

In value terms, margarine and shortening imports amounted to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 60% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Pakistan (X tons) and Sri Lanka (X tons) represented the largest importers of margarine and shortening in Southern Asia, together mixing up 56% of total imports. Nepal (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Bangladesh (12%), Afghanistan (7.8%) and India (5.9%). Bhutan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bhutan (with a CAGR of +29.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Pakistan ($X), Sri Lanka ($X) and India ($X) were the countries with the highest levels of imports in 2022, with a combined 71% share of total imports. Nepal, Bangladesh, Bhutan and Afghanistan lagged somewhat behind, together accounting for a further 29%.

Among the main importing countries, Bhutan, with a CAGR of +37.0%, recorded 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

The import price in Southern Asia stood at $X per ton in 2022, with an increase of 27% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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