Australia and Oceania: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in Australia and Oceania

In 2022, the refined cotton-seed oil market in Australia and Oceania increased by 3.3% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Refined Cotton-Seed Oil Production in Australia and Oceania

In value terms, refined cotton-seed oil production declined to $X in 2022 estimated in export price. Over the period under review, production, however, saw a drastic downturn. The growth pace was the most rapid in 2013 when the production volume increased by 21%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Refined Cotton-Seed Oil Exports

Exports in Australia and Oceania

In 2022, after two years of growth, there was significant decline in shipments abroad of refined cotton-seed oil, when their volume decreased by -53.4% to X tons. In general, exports, however, showed significant growth. The growth pace was the most rapid in 2020 when exports increased by 103,387%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then dropped dramatically in the following year.

In value terms, refined cotton-seed oil exports shrank notably to $X in 2022. Over the period under review, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 103,719% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then declined significantly in the following year.

Exports by Country

Australia prevails in exports structure, accounting for X tons, which was approx. 96% of total exports in 2022. New Zealand (X tons) took a relatively small share of total exports.

Australia was also the fastest-growing in terms of the refined cotton-seed oil exports, with a CAGR of +88.3% from 2012 to 2022. New Zealand experienced a relatively flat trend pattern. From 2012 to 2022, the share of Australia increased by +96 percentage points.

In value terms, Australia ($X) remains the largest refined cotton-seed oil supplier in Australia and Oceania, comprising 86% of total exports. The second position in the ranking was held by New Zealand ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at +155.4%.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, picking up by 64% against the previous year. In general, the export price, however, showed a perceptible decline. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+35.6%).

Refined Cotton-Seed Oil Imports

Imports in Australia and Oceania

In 2022, overseas purchases of refined cotton-seed oil decreased by -8.7% to X tons, falling for the third consecutive year after three years of growth. In general, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 121%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refined cotton-seed oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2019 with an increase of 94% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Australia prevails in imports structure, finishing at X tons, which was near 96% of total imports in 2022. New Zealand (X tons) held a minor share of total imports.

Australia was also the fastest-growing in terms of the refined cotton-seed oil imports, with a CAGR of +17.4% from 2012 to 2022. At the same time, New Zealand (+4.9%) displayed positive paces of growth. Australia (+7.6 p.p.) significantly strengthened its position in terms of the total imports, while New Zealand saw its share reduced by -6.5% from 2012 to 2022, respectively.

In value terms, Australia ($X) constitutes the largest market for imported refined cotton-seed oil in Australia and Oceania, comprising 96% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 3.8% share of total imports.

In Australia, refined cotton-seed oil imports expanded at an average annual rate of +20.0% over the period from 2012-2022.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, with an increase of 26% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined cotton-seed oil import price increased by +96.3% against 2019 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 36%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.2%).

Source: IndexBox Platform

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