ASEAN: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in ASEAN

In 2021, the ASEAN cotton-seed oil market was finally on the rise to reach $X after two years of decline. In general, consumption, however, saw a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Cotton-Seed Oil Production in ASEAN

In value terms, cotton-seed oil production expanded slightly to $X in 2021 estimated in export price. In general, production showed a abrupt slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by 11%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Cotton-Seed Oil Exports

Exports in ASEAN

In 2021, cotton-seed oil exports in ASEAN shrank to X tons, declining by -12.4% against 2020 figures. Overall, exports, however, saw a mild expansion. The growth pace was the most rapid in 2017 with an increase of 82%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, cotton-seed oil exports soared to $X in 2021. Total exports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -13.0% against 2017 indices. The growth pace was the most rapid in 2017 when exports increased by 64%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia dominates exports structure, accounting for X tons, which was approx. 97% of total exports in 2021. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cotton-seed oil exports from Malaysia stood at +2.6%. At the same time, Indonesia (+5.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +5.4% from 2012-2021. From 2012 to 2021, the share of Malaysia increased by +6.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest cotton-seed oil supplier in ASEAN, comprising 98% of total exports. The second position in the ranking was held by Indonesia ($X), with a 1.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Malaysia totaled +5.2%.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, rising by 39% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cotton-seed oil export price increased by +61.9% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.5%).

Cotton-Seed Oil Imports

Imports in ASEAN

In 2021, imports of cotton-seed oil in ASEAN expanded remarkably to X tons, increasing by 6% on the previous year. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.5% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 63%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, cotton-seed oil imports soared to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.5% against 2016 indices. The growth pace was the most rapid in 2014 when imports increased by 83%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

Malaysia prevails in imports structure, recording X tons, which was approx. 90% of total imports in 2021. It was distantly followed by Myanmar (X tons), mixing up a 7.1% share of total imports.

Imports into Malaysia increased at an average annual rate of +11.0% from 2012 to 2021. At the same time, Myanmar (+31.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +31.0% from 2012-2021. While the share of Malaysia (+17 p.p.) and Myanmar (+5.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported cotton-seed oil in ASEAN, comprising 91% of total imports. The second position in the ranking was held by Myanmar ($X), with a 6.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia totaled +11.6%.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, picking up by 37% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Myanmar totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.5%).

Source: IndexBox Platform