Market research

Soybean oil and fractions market in ASEAN

$Soybean oil and fractions market in ASEAN$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"ASEAN" region includes following countries:

Brunei Darussalam

Vietnam

Indonesia

Cambodia

Laos

Malaysia

Myanmar

Singapore

Thailand

the Philippines

Earlier Report Observations

ASEAN's market for soybean oil and fractions expanded from 777 thousand tons in 2018 to 986 thousand tons in 2020, marking a period of significant growth.

From 2021 onward, the market volume contracted steadily, falling to 932 thousand tons in 2021, 858 thousand tons in 2022, and 700 thousand tons in 2023. This decline represented a reduction of approximately 29% from the peak volume reached in 2020.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in ASEAN
  1. 5.1.1. Annual dynamics of production in ASEAN in kind, 2018-2023, K t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's imports to Brunei Darussalam in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to Brunei Darussalam by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Brunei Darussalam in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Brunei Darussalam by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Brunei Darussalam, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Brunei Darussalam by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's imports to Brunei Darussalam in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to Brunei Darussalam by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Brunei Darussalam in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Brunei Darussalam by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Brunei Darussalam, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Brunei Darussalam by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's exports from Brunei Darussalam in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from Brunei Darussalam by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Brunei Darussalam in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Brunei Darussalam by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Brunei Darussalam, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Brunei Darussalam by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's exports from Brunei Darussalam in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from Brunei Darussalam by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Brunei Darussalam in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Brunei Darussalam by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Brunei Darussalam, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Brunei Darussalam by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production soybean oil and fractions in ASEAN

In kind, 2017-2020, K t

Top producers of soybean oil and fractions, 2017-2020

Source: SHEV.io

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

Source: SHEV.io

ASEAN's production of soybean oil and fractions has grown for the second year in a row. In 2020, the region produced 920.7 thousand tons, marking a significant 11.2% increase from the previous year. Looking at the period from 2017 to 2020, production rose by 11.3%, with an average annual growth rate of 3.6%. The lowest production level was in 2018 at 796.0 thousand tons, which also saw the largest decline of 3.8%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(3.8%)	4.0%	11.2%	3.6%

Source: SHEV.io

In value, 2017-2020, M $ US

In 2020, the value of soybean oil and fractions production in ASEAN was 1 167 million US dollars, down 3.3% from the year before. Over the 2017-2020 period, production value fell by 10.5%, despite an average annual growth rate of 3.6%. The lowest value was recorded in 2018 at 1 011 million US dollars, with the biggest drop of 22.5% that year. However, 2019 saw the largest increase at 19.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(22.5%)	19.4%	(3.3%)	(3.6%)

Source: SHEV.io

Exports soybean oil and fractions from ASEAN

Exports in kind, K t

ASEAN's exports of soybean oil and fractions reached 185.0 thousand tons in 2020, up 41.5% from the previous year. From 2017 to 2020, exports grew by 21.1%, with an average annual rate of 6.6%. The lowest export volume was in 2019 at 130.8 thousand tons, which also experienced the largest decline of 29.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	20.9%	(29.2%)	41.5%	6.6%

Source: SHEV.io

Between 2017 and 2020, ASEAN's exports of soybean oil and fractions were not heavily concentrated in a few markets. Australia accounted for 12.6% of exports, South Korea for 7.1%, and New Zealand for 3.9%, together making up just 23.7% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

ASEAN's soybean oil and fractions exports rebounded in 2020 after two years of decline, totaling 234.5 million US dollars, a 23.0% increase from 2019. Over the 2017-2020 period, exports decreased by 2.6%, with an average annual rate of 0.9%. The lowest value was in 2019 at 190.7 million US dollars, which saw the largest drop of 18.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(2.6%)	(18.7%)	23.0%	(0.9%)

Source: SHEV.io

From 2017 to 2020, the export value structure for soybean oil and fractions in ASEAN was balanced rather than concentrated. Australia represented 11.3% of exports, South Korea 5.9%, and New Zealand 4.1%, together accounting for 21.3% of total flows, with many other countries making up the remaining 78.7%.

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

Source: SHEV.io

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

Source: SHEV.io

Imports soybean oil and fractions to ASEAN

Imports in kind, K t

ASEAN's imports of soybean oil and fractions have increased for the second consecutive year. In 2020, imports stood at 250.3 thousand tons, a solid 22.4% rise from the previous year. Between 2017 and 2020, imports grew by 11.9%, equivalent to an annualized rate of 3.8%. The lowest import volume was in 2018 at 165.5 thousand tons, which had the largest decline of 26.0%. In contrast, 2019 saw the biggest increase at 23.5%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(26.0%)	23.5%	22.4%	3.8%

Source: SHEV.io

Data from 2017 to 2020 show that ASEAN's imports of soybean oil and fractions were not concentrated on a few key sources. Argentina accounted for 35.5% of imports, China for 5.6%, and Brazil for 3.7%, together representing only 44.8% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

After two years of decline, ASEAN's imports of soybean oil and fractions increased in 2020, amounting to 228.7 million US dollars, a 25.7% year-over-year rise. Between 2017 and 2020, imports grew by 2.2%, equating to an annualized rate of 0.7%. The lowest value was in 2019 at 181.9 million US dollars, while the largest decline occurred in 2018 at 12.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(12.7%)	(6.9%)	25.7%	0.7%

Source: SHEV.io

From 2017 to 2020, Argentina was the largest supplier of soybean oil and fractions to ASEAN, accounting for 32.7% of import value, followed by China at 5.8% and Brazil at 3.5%. Together, these three countries represented just 42.0% of total import value, indicating a broadly diversified partner base for ASEAN.

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

Source: SHEV.io

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

Source: SHEV.io