Castor seeds market in South-eastern Asia

Earlier Report Observations

From 2018 to 2020, castor seed production in South-eastern Asia remained relatively stable, hovering around 34 000 tons annually. A slight dip in output in 2020 coincided with global supply chain disruptions and adverse weather factors, which affected agricultural yields and logistics across the region. During this period, the market's dynamics were consistently influenced by India's overwhelming dominance in global production, which set supply and pricing benchmarks for Southeast Asian countries.

The market landscape shifted notably from 2021 onward. Surging global demand for bio-based plastics, lubricants, and personal care products, which use castor oil derivatives, drove a significant increase in exports from the region. This export boom, reaching over 7 200 tons in 2021, reduced the domestic market volume to 27 927 tons that year despite a concurrent rise in local production. In 2022, heightened fertilizer prices and input supply disruptions increased cultivation costs, applying downward pressure on production and contributing to a stabilized market volume. By 2023, the market volume recovered to 29 375 tons, supported by regional efforts to expand agricultural value chains, improve seed quality standards, and introduce higher-yielding varieties, which enhanced overall supply reliability.

Entering 2024, strategic agreements by international firms to scale up castor seed production in other continents continued to affect global supply chains relevant to Southeast Asia. Within the region, a strong consumer trend toward natural and eco-friendly products sustained demand for castor oil derivatives. Concurrent investments in seed quality management, drought-resistant varieties, and sustainable agriculture programs in countries like Vietnam and Indonesia aimed to bolster the sector's resilience and market integration.

Production castor seeds in South-eastern Asia

In kind, 2017-2020, t

Top producers of castor seeds, 2017-2020

World map of production of castor seeds, 2017-2020

After two consecutive years of growth, castor seed production in South-eastern Asia experienced a decline. In 2020, the region produced 33 354 tonnes of castor seeds, representing a year-on-year decrease of 2.7%. Over the four-year period from 2017 to 2020, 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 most significant annual increase occurred in 2018 with growth of 4.5%.

Annual dynamics of production in South-eastern Asia in kind, 2017-2020, t

Exports castor seeds from South-eastern Asia

Exports in kind, t

The export market demonstrated considerable volatility during the observed period. Exports peaked in 2017 and reached their lowest point in 2018, with a 4.1-fold difference between these years. In 2020, South-eastern Asia exported 919 tonnes of castor seeds, marking a substantial decline of 23.5% compared to 2019. The minimum export volume was recorded in 2018 at 906 tonnes. The most significant decline occurred in 2018 with a drop of 75.6%, while the largest increase was observed in 2019 with growth of 32.6%.

Annual dynamics of product's exports from South-eastern Asia in kind, 2017-2020, t

From 2017 to 2020, China served as the primary destination for castor seed exports from South-eastern Asia, consistently accounting for 99.9% of total export volumes.

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

World map of product's exports from South-eastern Asia in kind, 2017-2020

Exports in value, K $ US

Export values showed notable fluctuations throughout the period. The peak occurred in 2017, while the lowest point was recorded in 2020, with a 7.9-fold difference between these years. In 2020, the value of castor seed exports from South-eastern Asia totaled 388.1 thousand US dollars, representing a sharp decline of 43.1% compared to the previous year. The most significant decrease was recorded in 2018 with a drop of 85.1%, while the largest increase occurred in 2019 with growth of 49.5%.

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

Between 2017 and 2020, virtually all castor seed export value from South-eastern Asia was associated with China, which accounted for 98.4% of total export flows.

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

World map of product's exports from South-eastern Asia in value, 2017-2020

Imports castor seeds to South-eastern Asia

Imports in kind, t

Import volumes exhibited significant volatility during the observed period. Imports reached their lowest point in 2019 and peaked in 2020, with a 77-fold difference between these years. In 2020, South-eastern Asia imported 1 250 tonnes of castor seeds, representing a dramatic increase of 7,636.0% compared to 2019. The minimum import volume was recorded in 2019 at just 16 tonnes. The most substantial decline occurred in 2019 with a decrease of 87.7%.

Annual dynamics of product's imports to South-eastern Asia in kind, 2017-2020, t

Throughout the 2017-2020 period, India and Pakistan remained the primary sources for castor seed imports into South-eastern Asia, together accounting for 99.8% of total import volumes.

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

World map of product's imports to South-eastern Asia in kind, 2017-2020

Imports in value, K $ US

Import values demonstrated considerable fluctuations during the period. Values reached their minimum in 2019 and peaked in 2017, with an 11.8-fold difference between these years. In 2020, the value of castor seed imports into South-eastern Asia amounted to 722.9 thousand US dollars, representing a substantial increase of 792.7% compared to the previous year. The minimum import value was recorded in 2019 at 81.0 thousand US dollars, while the most significant decline occurred that same year with a decrease of 78.7%.

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

From 2017 to 2020, castor seed import values into South-eastern Asia were heavily concentrated on India and Pakistan, whose combined share reached 97.7% of total import flows.

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

World map of product's imports to South-eastern Asia in value, 2017-2020