ASEAN: Groundnuts Market 2024

Groundnuts Market Size in ASEAN

The ASEAN groundnuts market contracted modestly to $X in 2022, stabilizing at the previous year. Over the period under review, consumption continues to indicate a noticeable descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Groundnuts Production in ASEAN

In value terms, groundnuts production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production showed a deep downturn. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Myanmar (X tons) remains the largest groundnuts producing country in ASEAN, accounting for X% of total volume. Moreover, groundnuts production in Myanmar exceeded the figures recorded by the second-largest producer, Indonesia (X tons), twofold. The third position in this ranking was held by Vietnam (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Myanmar amounted to X%. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and Vietnam (X% per year).

In 2022, the average groundnuts yield in ASEAN reduced slightly to X tons per ha, approximately equating the previous year's figure. Overall, the yield showed a slight setback. The pace of growth was the most pronounced in 2013 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the groundnuts yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The groundnuts harvested area shrank to X ha in 2022, remaining relatively unchanged against 2021. In general, the harvested area continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Groundnuts Exports

Exports in ASEAN

In 2022, shipments abroad of ground-nut (in-shell) decreased by X% to X tons, falling for the third year in a row after four years of growth. Over the period under review, exports, however, enjoyed a moderate increase. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, groundnuts exports fell rapidly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Lao People's Democratic Republic (X tons), Myanmar (X tons), Vietnam (X tons) and Indonesia (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Thailand (X tons), achieving a X% share of total exports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest groundnuts supplying countries in ASEAN were Indonesia ($X), Vietnam ($X) and Myanmar ($X), with a combined X% share of total exports.

Myanmar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, saw a noticeable curtailment. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Groundnuts Imports

Imports in ASEAN

In 2022, overseas purchases of ground-nut (in-shell) were finally on the rise to reach X tons after two years of decline. Overall, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, groundnuts imports rose sharply to $X in 2022. Over the period under review, imports, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X tons) and Malaysia (X tons) prevails in imports structure, together making up X% of total imports. It was distantly followed by Indonesia (X tons), creating a X% share of total imports. Vietnam (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Vietnam and Singapore lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, rising by X% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, groundnuts import price increased by X% against 2019 indices. The growth pace was the most rapid in 2020 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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