South-Eastern Asia: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in South-Eastern Asia

The Southeast Asian refined rapeseed oil market totaled $X in 2023, with an increase of X% against the previous year. In general, consumption, however, recorded a pronounced decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Refined Rapeseed Oil Production in South-Eastern Asia

In value terms, refined rapeseed oil production expanded to $X in 2023 estimated in export price. Overall, production, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Refined Rapeseed Oil Exports

Exports in South-Eastern Asia

In 2023, exports of refined rape, colza or mustard oil in South-Eastern Asia rose slightly to X tons, growing by X% against the year before. Total exports indicated resilient growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, refined rapeseed oil exports contracted significantly to $X in 2023. Overall, exports posted moderate growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then fell remarkably in the following year.

Exports by Country

Malaysia dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Singapore (X tons), making up a X% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

Exports from Malaysia increased at an average annual rate of X% from 2012 to 2023. 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 2012-2023. By contrast, Singapore (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Malaysia ($X) remains the largest refined rapeseed oil supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with an X% share of total exports.

In Malaysia, refined rapeseed oil exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the export price continues to indicate a slight descent. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then dropped significantly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the export price figures.

Refined Rapeseed Oil Imports

Imports in South-Eastern Asia

Refined rapeseed oil imports reduced remarkably to X tons in 2023, which is down by X% on 2022. Overall, imports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, refined rapeseed oil imports contracted notably to $X in 2023. In general, imports, however, posted resilient growth. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of import peaked at $X in 2022, and then shrank dramatically in the following year.

Imports by Country

The Philippines (X tons) and Malaysia (X tons) represented roughly X% of total imports in 2023. Singapore (X tons) took the next position in the ranking, distantly followed by Indonesia (X tons) and Vietnam (X tons). All these countries together held near X% share of total imports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Malaysia ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Among the main importing countries, the Philippines, with a CAGR of X%, 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 South-Eastern Asia stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then fell notably in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform