Castor seeds market in ASEAN

Earlier Report Observations

From 2018 to 2020, castor seed production in ASEAN remained relatively stable, with annual output around 34 000 tons. Government investments in agricultural technology and biotechnology supported productivity, while the emergence of a new product segment—fermented castor seeds—aimed at enhancing nutritional value added innovation to the market. The COVID-19 pandemic in 2020 disrupted supply chains, temporarily reducing production to 33 354 tons, but increased demand for castor seeds in biodiesel production, driven by renewable energy policies, helped lift market volume to 33 685 tons.

The period from 2021 to 2022 saw significant shifts. Entry of new players into the seed market and large-scale investments in production facilities boosted output to 35 118 tons in 2021. However, stricter labeling and packaging regulations to meet global export standards facilitated a sharp rise in exports, which drew supply away from the domestic market, shrinking market volume to 27 927 tons. In 2022, production declined to 33 475 tons, while market volume remained constrained at 27 342 tons as export-oriented policies and adaptations to digital distribution continued to prioritize external markets.

In 2023, production stabilized at 33 452 tons, with market volume recovering to 29 375 tons, a 7.4% increase from the previous year, indicating a rebound in domestic availability.

Production castor seeds in ASEAN

In kind, 2017-2020, t

Top producers of castor seeds, 2017-2020

World map of production of castor seeds, 2017-2020

ASEAN's castor seeds production declined after two consecutive years of growth. In 2020, the region produced 33 354 tonnes, marking a 2.7% decrease from the previous year. Over the 2017-2020 period, production increased by 2.5%, with a compound annual growth rate of 0.8%. The highest production level was recorded in 2019 at 34 270 tonnes, while the largest annual increase occurred in 2018 at 4.5%.

Annual dynamics of production in ASEAN in kind, 2017-2020, t

Exports castor seeds from ASEAN

Exports in kind, t

The market demonstrated significant volatility during the observed period. Exports reached their lowest point in 2018 at 912 tonnes, then peaked in 2017, showing a 4.1-fold difference between these years. In 2020, ASEAN exported 919 tonnes of castor seeds, representing a 23.5% decline compared to 2019. The largest decrease occurred in 2018 at 75.9%, while the most substantial increase was recorded in 2019 at 31.8%.

Annual dynamics of product's exports from ASEAN in kind, 2017-2020, t

From 2017 to 2020, export flows in kind were highly concentrated, with China alone accounting for 97.2% of total exports.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from ASEAN in kind, 2017-2020

Exports in value, K $ US

Market performance showed noticeable fluctuations throughout the period. Exports in value terms reached their lowest point in 2020 and peaked in 2017, with a 7.9-fold difference between these years. In 2020, ASEAN exported castor seeds worth 388 thousand US dollars, representing a 43.1% decrease compared to 2019. The largest decline occurred in 2018 at 85.1%, while the most significant increase was recorded in 2019 at 49.5%.

Annual dynamics of product's exports from ASEAN in value, 2017-2020, K $ US

Throughout 2017-2020, China remained the dominant buyer of castor seeds from ASEAN, accounting for 93.6% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from ASEAN in value, 2017-2020

Imports castor seeds to ASEAN

Imports in kind, t

The data reveals irregular changes, indicating a volatile market environment. Imports reached their lowest point in 2019 at 23 tonnes, then peaked in 2020, showing a 55-fold difference between these years. In 2020, ASEAN's castor seeds imports amounted to 1 250 tonnes, reflecting a dramatic increase of 5,411.3% compared to the previous year. The largest decline occurred in 2019 at 83.9%.

Annual dynamics of product's imports to ASEAN in kind, 2017-2020, t

From 2017 to 2020, the principal destinations for imports in kind were India (59.4% of imports), Pakistan (16.6%), and Tanzania (14.4%), which together accounted for 90.4% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to ASEAN in kind, 2017-2020

Imports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Imports in value terms reached their lowest point in 2019 at 81 thousand US dollars and peaked in 2017, showing an 11.8-fold variation between these years. In 2020, ASEAN imported castor seeds worth 792.7% more than in 2019. The largest decline occurred in 2019 at 78.7%.

Annual dynamics of product's imports to ASEAN in value, 2017-2020, K $ US

From 2017 to 2020, the leading destinations for imports in value terms were the United Kingdom (38.2% of import value), India (27.9%), and the Netherlands (10.5%), which together accounted for 76.6% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to ASEAN in value, 2017-2020