Asia: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in Asia

In 2022, the Asian refined cotton-seed oil market increased by 0.1% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Refined Cotton-Seed Oil Production in Asia

In value terms, refined cotton-seed oil production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 15%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Refined Cotton-Seed Oil Exports

Exports in Asia

After two years of decline, shipments abroad of refined cotton-seed oil increased by 17% to X tons in 2022. In general, exports saw a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 82% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined cotton-seed oil exports surged to $X in 2022. Overall, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 79% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

The shipments of the four major exporters of refined cotton-seed oil, namely Kazakhstan, Malaysia, China and Turkey, represented more than two-thirds of total export. It was distantly followed by Azerbaijan (X tons), mixing up a 4.5% share of total exports. Uzbekistan (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Kazakhstan (with a CAGR of +46.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest refined cotton-seed oil supplying countries in Asia were Kazakhstan ($X), China ($X) and Malaysia ($X), together accounting for 73% of total exports.

Kazakhstan, with a CAGR of +48.5%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, growing by 4.2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 62%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in China ($X per ton) and Turkey ($X per ton), while Uzbekistan ($X per ton) and Azerbaijan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+20.8%), while the other leaders experienced more modest paces of growth.

Refined Cotton-Seed Oil Imports

Imports in Asia

In 2022, supplies from abroad of refined cotton-seed oil was finally on the rise to reach X tons after two years of decline. Overall, imports continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2017 when imports increased by 38%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, refined cotton-seed oil imports contracted to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.7% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 39%. Over the period under review, imports hit record highs at $X in 2021, and then contracted modestly in the following year.

Imports by Country

In 2022, Malaysia (X tons) was the largest importer of refined cotton-seed oil, generating 37% of total imports. Tajikistan (X tons) ranks second in terms of the total imports with a 21% share, followed by Uzbekistan (18%), Kyrgyzstan (9.8%) and India (8.6%). Japan (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +84.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Uzbekistan ($X) and Tajikistan ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 68% share of total imports. India, Kyrgyzstan and Japan lagged somewhat behind, together accounting for a further 27%.

Among the main importing countries, India, with a CAGR of +40.1%, saw 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

The import price in Asia stood at $X per ton in 2022, reducing by -10.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 56%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :