South-Eastern Asia: Groundnut Oil Market 2024

Groundnut Oil Market Size in South-Eastern Asia

The Southeast Asian groundnut oil market stood at $X in 2023, remaining relatively unchanged against the previous year. In general, consumption showed a mild reduction. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Groundnut Oil Production in South-Eastern Asia

In value terms, groundnut oil production stood at $X in 2023 estimated in export price. Overall, production saw a mild decline. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Groundnut Oil Exports

Exports in South-Eastern Asia

In 2023, after three years of decline, there was growth in shipments abroad of groundnut oil, when their volume increased by X% to X tons. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, groundnut oil exports amounted to $X in 2023. In general, exports, however, continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia represented the main exporter of groundnut oil in South-Eastern Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. Vietnam (X tons) took the second position in the ranking, followed by Indonesia (X tons). All these countries together took approx. X% share of total exports. Thailand (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, Thailand (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. Vietnam experienced a relatively flat trend pattern. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), Vietnam (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Indonesia (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) remains the largest groundnut oil supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports. It was followed by Indonesia, with a X% share.

In Malaysia, groundnut oil exports expanded 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: Vietnam (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, shrinking by X% against the previous year. Export price indicated a modest expansion from 2012 to 2023: its price 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, groundnut oil export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Groundnut Oil Imports

Imports in South-Eastern Asia

In 2023, imports of groundnut oil in South-Eastern Asia expanded remarkably to X tons, growing by X% compared with 2022 figures. Overall, imports, however, continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, groundnut oil imports rose remarkably to $X in 2023. Over the period under review, imports, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Malaysia represented the largest importing country with an import of about X tons, which recorded X% of total imports. Singapore (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (X%). Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Imports into Malaysia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Lao People's Democratic Republic (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Singapore (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Lao People's Democratic Republic (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported groundnut oil in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports. It was followed by Vietnam, with an X% share.

In Malaysia, groundnut oil imports shrank by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2023, the import price in South-Eastern Asia amounted to $X per ton, standing approx. at the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform