Groundnut oil and fractions market in South-eastern Asia

Earlier Report Observations

The groundnut oil market in South-eastern Asia, influenced by major producers China and India, grew from 288.9 thousand tons in 2018 to 333.0 thousand tons in 2023. This expansion was notably driven by significant investments in production capacity, such as Gulab Oils in India increasing its daily output from 100 to 1 000 tons in June 2022 and Gemini Edibles & Fats India Ltd launching new packaged products in April 2022. Additionally, the growing use of groundnut oil in the food service sector, including quick-service restaurants, boosted consumption in 2023.

Consumer preferences shifted towards natural, cold-pressed, and organic groundnut oils from 2018 onward, supported by rising health consciousness and the expansion of e-commerce platforms which improved product accessibility. The market experienced temporary declines in 2019 and 2021, falling to 281.5 thousand tons and 282.5 thousand tons respectively.

In 2024, India became Asia's leading groundnut oil exporter with a 74% surge in shipments, while China remained the dominant importer. The Indian government approved the National Mission on Edible Oils Oilseeds in late 2024, a policy initiative aimed at enhancing domestic oilseed production and reducing import reliance.

Production groundnut oil and fractions in South-eastern Asia

In kind, 2017-2020, K t

Top producers of groundnut oil and fractions, 2017-2020

World map of production of groundnut oil and fractions, 2017-2020

In 2019, South-eastern Asia produced 279.4 thousand tonnes of groundnut oil and fractions, marking the lowest output in recent years with a 2.6% decline. Production then increased by 3.0% in 2020, reaching 287.9 thousand tonnes.

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

In value, 2017-2020, M $ US

South-eastern Asia's groundnut oil and fractions production value has declined for two consecutive years. In 2018, it peaked at 1 016 million US dollars, representing a 28.6% increase. However, in 2019, it fell sharply by 22.7% to a lower value. By 2020, production was valued at 729 million US dollars, showing a modest decrease of 7.2% compared to 2019. Overall, from 2017 to 2020, production decreased by 7.6%, averaging an annual decline of 2.6%.

Annual dynamics of production in South-eastern Asia in value, 2017-2020, M $ US

Exports groundnut oil and fractions from South-eastern Asia

Exports in kind, t

In 2020, South-eastern Asia exported 987 tonnes of groundnut oil and fractions, which is 11.9% less than in the previous year. The largest decline occurred in 2018, with a 25.7% drop, while 2019 saw a small increase of 2.5%. Over the period from 2017 to 2020, exports decreased by 32.8%, equating to an average annual decline of 12.4%.

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

From 2017 to 2020, Australia, Japan, and China were significant buyers of groundnut oil and fractions from South-eastern Asia, accounting for 35.1%, 10.0%, and 3.8% of exports in kind, respectively. Together, they made up 48.9% of total exports, with the remaining 51.1% distributed among numerous other partners.

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

Groundnut oil and fractions exports from South-eastern Asia have declined for three consecutive years. In 2020, exports amounted to 2 502 thousand US dollars, down by 20.6% from the previous year. Between 2017 and 2020, exports decreased by 38.3%, averaging an annual decline of 14.9%.

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

During 2017–2020, Australia, Japan, and New Zealand consistently served as the main destinations for exports in value terms, accounting for 39.7%, 10.8%, and 5.2% of exports, respectively. Together, they represented 55.7% 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 groundnut oil and fractions to South-eastern Asia

Imports in kind, t

In 2020, South-eastern Asia imported 2 783 tonnes of groundnut oil and fractions, down by 13.7% from a year earlier. The largest increase was recorded in 2019, with a 6.5% rise. Over the period from 2017 to 2020, imports decreased by 20.3%, with a compound annual growth rate (CAGR) of -7.3%.

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

From 2017 to 2020, China, the United States, and India were the three main markets for groundnut oil and fractions imports into South-eastern Asia, together absorbing 76.7% of total imports in kind.

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

Groundnut oil and fractions imports into South-eastern Asia increased for the second consecutive year. In 2020, imports totalled 6 666 thousand US dollars, rising by 2.1% over the past year. The minimum value was recorded in 2018 at 6 406 thousand US dollars, which saw an 11.2% decline. Overall, from 2017 to 2020, imports decreased by 7.6%, with a CAGR of -2.6%.

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

Throughout 2017–2020, China, the United States, and India remained the key sources for imports in value terms, accounting for 44.3%, 24.4%, and 9.2% of imports, respectively. Together, they took 77.8% 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