Malaysia, "the world's biggest vegetable oils exporter"

 

Animals or vegetable fats and oils are the world's 525th most traded products. Globally, Malaysia is the biggest exporter of vegetable oils. According to Malaysia import export data, around 2 billion worth of vegetable oils were exported during last year. Turkey was the biggest importer of animal or vegetable oils from Malaysia responsible for 11% market share. 

Import share wise, Netherlands (7.8%), United States (7%), Egypt (5.8%), South Korea (5.5%), China (4.5%) and Italy (4.1%) were the major animal/vegetable oils importers from Malaysia during last year. On the other hand, Nearly, 4.06 million metric tonnes of cooking oil shipments were made by Malaysia. These include palm oil, palm-based oleo, palm kernel oil, palm kernel cake, palm biodiesel, etc.

Malaysia accounts for 30% of the global market overall palm oil exports. Continent wise, Asian countries were the biggest importer of vegetables fats & oils from Malaysia with 57% market share. Whereas, African countries were the second biggest importer with 16% share. Europe and Middle Eastern Countries were responsible for 12% share respectively. 

Among South Asian nations, India accounted for the maximum amount of vegetable oil imports from Malaysia. As per Malaysia export data, India has imported nearly 2.5 MT of vegetable oils from Malaysia during last year. Whereas, Pakistan (461 MT), Bangladesh (224 MT), Afghanistan (246 MT), and Sri Lanka (21 MT) were the biggest vegetable oils importing countries from Malaysia.

Whereas, other major importing destinations were Turkey, Netherlands, United States, Egypt, South Korea, China, Vietnam and Italy. Cargil Palm Products, Premium Vegetable Oils and MOI Foods were the biggest vegetable oil suppliers from Malaysia. On the other hand, Malaysia’s animal/vegetable oil imports were merely $194 million during last year.

Malaysia import data suggests that 90% of the country's animal/vegetable oils imports came from Indonesia which is the biggest cooking oil exporter in the world. Whereas, there was a minimal number of cooking oil shipments from Thailand, India and Saudi Arabia in 2023. In terms of maximum shipments for animal/vegetable oils were Natural Oleochemicals, Inter-continental oils & fats and Kato manufacturing were the leading buyers from Malaysia.

Apart from cooking oil, Malaysia had exported a significant amount of refined petroleum during last year. As per Malaysia customs data, nearly $30 billion worth of refined petroleum oil was exported during last year. Singapore was the biggest refined petroleum importer with 37% of the country's overall exports. Indonesia, Australia and China were other prominent markets for the petroleum oil exports of Malaysia.

Malaysian animal/vegetable fats & oil export companies can drive sales from the international market through global import export data provider. This will help Malaysian exporters identify animal/vegetable fats & oil demand, discover leading marketplaces, top buyers, suppliers, product pricing, purchasing patterns and shipping volumes. This will help companies map effective marketing strategies and get right business prospects.

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