Belgium: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in Belgium

In 2021, the Belgian cotton-seed oil market increased by 103% to $X, rising for the second consecutive year after two years of decline. Overall, consumption posted a resilient expansion. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Cotton-Seed Oil Production in Belgium

In value terms, cotton-seed oil production shrank notably to $X in 2021 estimated in export price. Over the period under review, production, however, posted buoyant growth. The growth pace was the most rapid in 2020 when the production volume increased by 92%. As a result, production reached the peak level of $X, and then contracted notably in the following year.

Cotton-Seed Oil Exports

Exports from Belgium

In 2021, overseas shipments of cotton-seed oil increased by 346% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, saw a dramatic contraction. The growth pace was the most rapid in 2017 when exports increased by 410%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cotton-seed oil exports surged to $X in 2021. Over the period under review, exports, however, showed a deep downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 172%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), Turkey (X tons) and Germany (X tons) were the main destinations of cotton-seed oil exports from Belgium, with a combined 95% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +2,059.8%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for cotton-seed oil exports from Belgium, comprising 42% of total exports. The second position in the ranking was taken by Germany ($X), with a 20% share of total exports. It was followed by Turkey, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to the UK stood at +183.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+69.5% per year) and Turkey (+2,020.9% per year).

Export Prices by Country

The average cotton-seed oil export price stood at $X per ton in 2021, shrinking by -45.7% against the previous year. Over the period under review, the export price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 341%. As a result, the export price attained the peak level of $X per ton, and then dropped sharply in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+41.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton-Seed Oil Imports

Imports into Belgium

In 2021, supplies from abroad of cotton-seed oil increased by 286% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2017 with an increase of 1,678%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, cotton-seed oil imports soared to $X in 2021. In general, imports recorded a moderate increase. The pace of growth appeared the most rapid in 2017 when imports increased by 745%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

France (X tons), the Netherlands (X tons) and the United States (X tons) were the main suppliers of cotton-seed oil imports to Belgium, together accounting for 98% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +111.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and the United States ($X) constituted the largest cotton-seed oil suppliers to Belgium, with a combined 95% share of total imports.

The United States, with a CAGR of +103.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cotton-seed oil import price amounted to $X per ton, reducing by -12.5% against the previous year. In general, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 39%. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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