ASEAN: Oil Crops Market 2024

Oil Crops Market Size in ASEAN

The ASEAN oil crops market reached $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Oil Crops Production in ASEAN

In value terms, oil crops production reached $X in 2022 estimated in export price. Over the period under review, production, however, showed a remarkable increase. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The country with the largest volume of oil crops production was Indonesia (X tons), accounting for X% of total volume. Moreover, oil crops production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (X tons), threefold. Thailand (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Indonesia totaled X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

In 2022, the average yield of oil crops (primary) in ASEAN reached X tons per ha, remaining constant against the year before. In general, the yield recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2018 to 2022, the growth of the oil crops yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of oil crops (primary) production in ASEAN reduced slightly to X ha, remaining constant against the previous year's figure. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2021, and then dropped modestly in the following year.

Oil Crops Exports

Exports in ASEAN

In 2022, shipments abroad of oil crops (primary) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated buoyant growth from 2012 to 2022: its volume 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 pace of growth was the most pronounced in 2020 when exports increased by X%. The volume of export peaked at X tons in 2021, and then reduced in the following year.

In value terms, oil crops exports declined sharply to $X in 2022. Overall, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped notably in the following year.

Exports by Country

Indonesia (X tons) and Thailand (X tons) dominates exports structure, together creating X% of total exports. Myanmar (X tons) held the next position in the ranking, followed by Vietnam (X tons). All these countries together held near X% share of total exports. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) emerged as the largest oil crops supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Myanmar, with a X% share.

In Thailand, oil crops exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Myanmar (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 Myanmar ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Oil Crops Imports

Imports in ASEAN

In 2022, overseas purchases of oil crops (primary) decreased by X% to X tons, falling for the second year in a row after two years of growth. Total imports indicated a notable increase from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, oil crops imports reached $X in 2022. Total imports indicated perceptible growth 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The purchases of the three major importers of oil crops (primary), namely Thailand, Indonesia and Vietnam, represented more than two-thirds of total import. It was distantly followed by Malaysia (X tons), making up a X% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, 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, Thailand ($X), Indonesia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Malaysia and the Philippines lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Philippines, with a CAGR of X%, saw the highest growth rate of 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 ASEAN stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated mild growth from 2012 to 2022: its price 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, oil crops import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Philippines ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and Thailand ($X per ton) were 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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