Southern Asia: Vegetable Oils Market 2024

Vegetable Oils Market Size in Southern Asia

The South Asian vegetable oils market amounted to $X in 2023, remaining constant against the previous year. In general, consumption continues to indicate a perceptible setback. The pace of growth appeared the most rapid in 2021 when the market value increased by X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Vegetable Oils Production in Southern Asia

In value terms, vegetable oils production expanded to $X in 2023 estimated in export price. Overall, production saw a perceptible descent. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Vegetable Oils Exports

Exports in Southern Asia

In 2023, shipments abroad of vegetable fats and oils decreased by X% to X tons, falling for the second year in a row after four years of growth. In general, exports continue to indicate a deep setback. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, vegetable oils exports dropped slightly to $X in 2023. Overall, exports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

India (X tons) and Pakistan (X tons) were the major exporters of vegetable fats and oils in 2023, recording near X% and X% of total exports, respectively. It was distantly followed by Sri Lanka (X tons), comprising a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Sri Lanka (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, India ($X) remains the largest vegetable oils supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Pakistan ($X), with a X% share of total exports.

In India, vegetable oils exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (X% per year) and Sri Lanka (X% per year).

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated a noticeable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, vegetable oils export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked in 2023 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced mixed trends in the export price figures.

Vegetable Oils Imports

Imports in Southern Asia

Vegetable oils imports contracted to X tons in 2023, dropping by X% on the previous year's figure. In general, imports showed a abrupt decline. The growth pace was the most rapid in 2021 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, vegetable oils imports dropped significantly to $X in 2023. Over the period under review, imports showed a pronounced reduction. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Afghanistan was the key importing country with an import of around X tons, which recorded X% of total imports. Bangladesh (X tons) ranks second in terms of the total imports with a X% share, followed by Pakistan (X%) and India (X%). Bhutan (X tons) held a minor share of total imports.

Imports into Afghanistan decreased at an average annual rate of X% from 2012 to 2023. At the same time, Bhutan (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Bhutan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. By contrast, India (X%) and Pakistan (X%) illustrated a downward trend over the same period. Bangladesh (X p.p.), Pakistan (X p.p.), Bhutan (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the total imports, while Afghanistan saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Afghanistan ($X) constitutes the largest market for imported vegetable fats and oils in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports. It was followed by Pakistan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Afghanistan stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Pakistan (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, which is down by X% against the previous year. Import price indicated a slight increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, vegetable oils import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform