Rapeseed, colza or mustard oil and fractions market in ASEAN

Earlier Report Observations

The market volume for rapeseed, colza or mustard oil and fractions in ASEAN rose from 72.3 thousand tonnes in 2018 to 113.8 thousand tonnes in 2020, driven primarily by growing imports which increased from 136.0 thousand tonnes to 145.6 thousand tonnes over the period, while exports declined.

After a contraction to 87.8 thousand tonnes in 2021, the market stabilized at 86.6 thousand tonnes in 2022. Supply disruptions from the Russia-Ukraine conflict affected global rapeseed oil availability, influencing trade flows and contributing to the flat market volume that year.

In 2023, market volume fell sharply to 54.2 thousand tonnes as exports surged to 75.8 thousand tonnes, redirected by sustained European demand for rapeseed oil in biofuels due to the EU's palm oil restrictions, while imports continued to decline.

Production rapeseed, colza or mustard oil and fractions in ASEAN

In kind, 2017-2020, t

Top producers of rapeseed, colza or mustard oil and fractions, 2017-2020

World map of production of rapeseed, colza or mustard oil and fractions, 2017-2020

ASEAN's production of rapeseed, colza, or mustard oil and fractions rebounded after a two-year decline. In 2019, output reached its lowest point at 14 100 tonnes, with the largest annual decline of 10.2% recorded that year. Production then surged in 2020 to 19 800 tonnes, marking a sharp 40.4% year-over-year increase. Over the 2017-2020 period, production grew by 25.3%, translating to a compound annual growth rate of 7.8%.

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

In value, 2017-2020, K $ US

The value of ASEAN's rapeseed, colza, or mustard oil and fractions production also showed significant growth. In 2019, it hit a low of 26 429 thousand US dollars, with the largest annual decline of 10.5% occurring that year. By 2020, output value rose to 43 041 thousand US dollars, representing a substantial 62.9% increase from the previous year. From 2017 to 2020, production value expanded by 61.8%, equivalent to an annualized growth rate of 17.4%.

Annual dynamics of production in ASEAN in value, 2017-2020, K $ US

Exports rapeseed, colza or mustard oil and fractions from ASEAN

Exports in kind, K t

ASEAN's exports of rapeseed, colza, or mustard oil and fractions continued to decline for the second consecutive year. In 2018, exports peaked at 79.4 thousand tonnes, with the largest annual increase of 9.0% recorded that year. However, 2019 saw the largest decline of 32.4%, followed by a further drop in 2020 to 51.5 thousand tonnes, down 3.9% from 2019. Over the 2017-2020 period, exports decreased by 29.2%, equating to an annualized decline of 10.9%.

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

From 2017 to 2020, New Zealand, Australia, and Fiji consistently formed the core of ASEAN's export markets in volume terms. Together, these three countries accounted for 55.0% of total export flows during this period.

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, M $ US

In value terms, ASEAN's exports of rapeseed, colza, or mustard oil and fractions showed a different trend. In 2019, the largest decline of 7.5% was recorded, but exports rebounded in 2020 to 94.5 million US dollars, up 9.2% year-over-year. The largest increase of 10.4% occurred in 2018. Overall, from 2017 to 2020, export value grew by 11.6%, with an annualized rate of 3.7%.

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

Throughout 2017-2020, New Zealand, Australia, and Fiji remained the key export partners in value terms. New Zealand accounted for 28.9% of export value, Australia for 18.5%, and Fiji for 6.0%, together making up 53.4% of total export flows.

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

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

Imports rapeseed, colza or mustard oil and fractions to ASEAN

Imports in kind, K t

ASEAN's imports of rapeseed, colza, or mustard oil and fractions increased for the third consecutive year. In 2020, import volume reached 145.6 thousand tonnes, up 1.2% from the previous year. Over the 2017-2020 period, imports grew by 17.8%, with a compound annual growth rate of 5.6%.

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

From 2017 to 2020, Canada, the United Arab Emirates, and Australia dominated ASEAN's import structure in volume terms. Canada represented 26.4% of imports, the United Arab Emirates 21.8%, and Australia 18.9%, together accounting for 67.1% 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, M $ US

In value terms, ASEAN's imports of rapeseed, colza, or mustard oil and fractions also showed growth. In 2018, imports peaked at 157.4 million US dollars, with the largest annual increase of 19.1% recorded that year. The largest decline of 8.7% occurred in 2019. By 2020, import value stood at 152.4 million US dollars, up 6.0% year-over-year. From 2017 to 2020, import value increased by 15.3%, equating to an annualized growth rate of 4.9%.

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

Over the 2017-2020 period, Canada, the United Arab Emirates, and Australia were the main suppliers to ASEAN in value terms. Canada accounted for 22.6% of import value, the United Arab Emirates for 20.6%, and Australia for 19.1%, together comprising 62.3% of total imports.

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

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