Asia-Pacific: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in Asia-Pacific

The Asia-Pacific cotton-seed oil market contracted to $X in 2021, shrinking by -5.9% against the previous year. Over the period under review, consumption, however, saw a mild shrinkage. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Cotton-Seed Oil Production in Asia-Pacific

In value terms, cotton-seed oil production shrank to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 38% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Cotton-Seed Oil Exports

Exports in Asia-Pacific

In 2021, cotton-seed oil exports in Asia-Pacific stood at X tons, with an increase of 2.6% on the previous year. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 52%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, cotton-seed oil exports soared to $X in 2021. Total exports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.4% against 2018 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 46%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Malaysia (X tons) represented the major exporter of cotton-seed oil, achieving 65% of total exports. It was distantly followed by China (X tons), comprising a 26% share of total exports. The following exporters - Australia (X tons) and India (X tons) - each recorded a 5.3% share of total exports.

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, India (+17.5%) and China (+10.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +17.5% from 2012-2021. By contrast, Australia (-22.1%) illustrated a downward trend over the same period. China (+15 p.p.), Malaysia (+15 p.p.) and India (+2 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -21.9% from 2012 to 2021, respectively.

In value terms, Malaysia ($X) remains the largest cotton-seed oil supplier in Asia-Pacific, comprising 66% of total exports. The second position in the ranking was taken by China ($X), with a 24% share of total exports. It was followed by Australia, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value in Malaysia stood at +5.2%. The remaining exporting countries recorded the following average annual rates of exports growth: China (+11.3% per year) and Australia (-16.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, growing by 42% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. 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, major exporting countries recorded the following prices: in Australia ($X per ton) and India ($X per ton), while China ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+6.8%), while the other leaders experienced more modest paces of growth.

Cotton-Seed Oil Imports

Imports in Asia-Pacific

In 2021, imports of cotton-seed oil in Asia-Pacific expanded slightly to X tons, surging by 4.8% against 2020. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 64% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, cotton-seed oil imports soared to $X in 2021. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 58% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Australia (X tons) was the major importer of cotton-seed oil, mixing up 51% of total imports. Malaysia (X tons) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by India (15%). The following importers - Japan (X tons), New Zealand (X tons) and Myanmar (X tons) - together made up 7.5% of total imports.

Imports into Australia increased at an average annual rate of +20.8% from 2012 to 2021. At the same time, India (+93.3%), Myanmar (+31.0%), Malaysia (+11.0%) and New Zealand (+7.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +93.3% from 2012-2021. By contrast, Japan (-3.1%) illustrated a downward trend over the same period. Australia (+24 p.p.) and India (+15 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Japan saw its share reduced by -3.4% and -10% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported cotton-seed oil in Asia-Pacific, comprising 50% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 22% share of total imports. It was followed by India, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia stood at +20.5%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+11.6% per year) and India (+59.1% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, rising by 38% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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