Africa: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in Africa

The African cotton-seed oil market reduced to $X in 2021, which is down by -9.9% against the previous year. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then fell in the following year.

Cotton-Seed Oil Production in Africa

In value terms, cotton-seed oil production declined to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 35%. As a result, production reached the peak level of $X, and then reduced in the following year.

Cotton-Seed Oil Exports

Exports in Africa

In 2021, shipments abroad of crude cotton-seed oil was finally on the rise to reach X tons for the first time since 2012, thus ending a eight-year declining trend. Overall, exports, however, continue to indicate a deep downturn. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cotton-seed oil exports soared to $X in 2021. In general, exports, however, faced a abrupt curtailment. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Benin (X tons) and South Africa (X tons) represented the largest exporters of crude cotton-seed oil in Africa, together amounting to near 73% of total exports. It was distantly followed by Burkina Faso (X tons), constituting a 23% share of total exports. The following exporters - Cote d'Ivoire (X tons) and Egypt (X tons) - each reached a 3.5% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +60.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) emerged as the largest cotton-seed oil supplier in Africa, comprising 52% of total exports. The second position in the ranking was held by Benin ($X), with a 25% share of total exports. It was followed by Burkina Faso, with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa totaled +15.6%. In the other countries, the average annual rates were as follows: Benin (-29.5% per year) and Burkina Faso (+23.0% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, picking up by 22% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by 44%. Over the period under review, the export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was South Africa ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+4.9%), while the other leaders experienced more modest paces of growth.

Cotton-Seed Oil Imports

Imports in Africa

In 2021, cotton-seed oil imports in Africa skyrocketed to X tons, surging by 62% compared with the previous year's figure. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 103%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, cotton-seed oil imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2013 when imports increased by 78% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Mali (X tons) represented the largest importer of crude cotton-seed oil, generating 53% of total imports. Mauritius (X tons) took the second position in the ranking, followed by Nigeria (X tons), Namibia (X tons) and Botswana (X tons). All these countries together held approx. 38% share of total imports. The following importers - Sudan (X tons) and Egypt (X tons) - each recorded a 4% share of total imports.

Mali was also the fastest-growing in terms of the crude cotton-seed oil imports, with a CAGR of +77.2% from 2012 to 2021. At the same time, Namibia (+32.2%), Botswana (+21.5%), Mauritius (+12.7%) and Sudan (+6.0%) displayed positive paces of growth. By contrast, Nigeria (-3.4%) and Egypt (-17.9%) illustrated a downward trend over the same period. While the share of Mali (+52 p.p.), Namibia (+7.9 p.p.), Mauritius (+3.1 p.p.) and Botswana (+3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Egypt (-18.9 p.p.) and Nigeria (-21.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cotton-seed oil importing markets in Africa were Namibia ($X), Botswana ($X) and Nigeria ($X), together comprising 56% of total imports. These countries were followed by Mauritius, Mali, Egypt and Sudan, which together accounted for a further 32%.

Among the main importing countries, Mali, with a CAGR of +38.8%, recorded the highest growth rate of 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 2021, the import price in Africa amounted to $X per ton, dropping by -24% against the previous year. In general, the import price showed a abrupt descent. The pace of growth appeared the most rapid in 2017 an increase of 23%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Botswana ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Botswana (+4.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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