Oil seeds and oleaginous fruits market in ASEAN

Earlier Report Observations

The ASEAN market for oil seeds and oleaginous fruits grew to 724.8 thousand tons in 2019 before contracting sharply to 567.1 thousand tons in 2020. Production followed a similar trajectory, falling by over 20% that year. From 2021 to 2023, market volume stabilized between 552.5 and 571.0 thousand tons, showing a modest recovery trend.

By 2024, the Asia-Pacific region accounted for 35% of the global oilseed market, supported by expansion in food processing and rising soybean production. Increasing demand for animal feed in neighboring economies, alongside growing investments in biofuels and the development of herbicide-tolerant oilseed varieties, shaped the market's broader environment.

Production oil seeds and oleaginous fruits in ASEAN

In kind, 2017-2020, K t

Top producers of oil seeds and oleaginous fruits, 2017-2020

World map of production of oil seeds and oleaginous fruits, 2017-2020

ASEAN's production of oil seeds and oleaginous fruits declined after two years of growth. In 2020, production fell to 576.5 K t, down 20.3% from the previous year. Over the period from 2017 to 2020, production decreased by 14.9%, which translates to an annualized decline rate of 5.3%. The highest production level was recorded in 2019 at 723.1 K t, with the largest annual increase of 5.8% also occurring that year.

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

Exports oil seeds and oleaginous fruits from ASEAN

Exports in kind, t

The market showed an unstable trend throughout the period. Exports reached their lowest point in 2017 and peaked in 2020, with a 2.3-fold difference between these years. In 2020, ASEAN exported 19 107 t of oil seeds and oleaginous fruits, marking a sharp year-on-year increase of 121.4%. The largest decline was recorded in 2019 at 3.4%.

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

From 2017 to 2020, the country composition of exports in kind was dispersed. China accounted for 26.8% of exports, India for 12.0%, and South Korea for 5.0%, together making up 43.7% of total flows. The remaining 56.3% was distributed among a wide range of other destinations.

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

There were noticeable fluctuations in market performance during this period. Exports hit their lowest point in 2019 and peaked in 2020, with a 2.8-fold gap between these years. In 2020, ASEAN's exports of oil seeds and oleaginous fruits amounted to 57 048 K $ US, which is 180.2% higher than in 2019. The minimum value was recorded in 2019 at 20 358 K $ US, with the largest decline of 45.1% also occurring that year.

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

From 2017 to 2020, three main markets—China, India, and Pakistan—together absorbed 67.1% of ASEAN's total exports of oil seeds and oleaginous fruits in value terms.

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

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

Imports oil seeds and oleaginous fruits to ASEAN

Imports in kind, t

After a two-year increase, ASEAN's imports of oil seeds and oleaginous fruits in kind declined. In 2020, import volume reached 9 703 t, showing a gradual drop of 6.5% compared to the previous year. Over the period from 2017 to 2020, imports increased by 28.2%, with a compound annual growth rate of 8.6%. The maximum value was recorded in 2019 at 10 381 t, with the largest increase of 31.3% also occurring that year.

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

Throughout 2017 to 2020, three largest markets—China, Timor-Leste, and India—remained central to imports in kind, together accounting for 57.3% of total 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

ASEAN imported oil seeds and oleaginous fruits worth 21 604 K $ US in 2020, indicating a robust gain of 22.2% compared to the previous year. Between 2017 and 2020, imports increased by 20.5%, equating to an annualized growth rate of 6.4%. The minimum value was recorded in 2019 at 21 604 K $ US, while the maximum was in 2018 at 27 056 K $ US. The largest decline occurred in 2019 at 20.2%, and the largest increase was in 2018 at 23.5%.

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

From 2017 to 2020, China (45.4% of imports in value terms), Mexico (5.7%), and India (5.5%) consistently remained the main destinations for imports, together accounting for 56.5% of total flows.

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

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