China: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in China

In 2021, after two years of growth, there was decline in the Chinese cotton-seed oil market, when its value decreased by -4.2% to $X. Over the period under review, consumption, however, saw a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 9.2% against the previous year. Cotton-seed oil consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Cotton-Seed Oil Production in China

In value terms, cotton-seed oil production declined to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 13%. Cotton-seed oil production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Cotton-Seed Oil Exports

Exports from China

In 2021, cotton-seed oil exports from China surged to X tons, growing by 40% on 2020. Over the period under review, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 3,479%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, cotton-seed oil exports surged to $X in 2021. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by 3,537%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for cotton-seed oil exports from China, with a 99.9% share of total exports. It was followed by Tajikistan (X kg), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Malaysia stood at +30.0%.

In value terms, Malaysia ($X) remains the key foreign market for cotton-seed oil exports from China, comprising 99.9% of total exports. The second position in the ranking was taken by Tajikistan ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia totaled +32.0%.

Export Prices by Country

The average cotton-seed oil export price stood at $X per ton in 2021, with an increase of 66% against the previous year. Overall, the export price continues to indicate a slight expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Tajikistan ($X per ton), while the average price for exports to Malaysia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tajikistan (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Cotton-Seed Oil Imports

Imports into China

In 2021, purchases abroad of cotton-seed oil decreased by -44.1% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports saw a pronounced reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 798%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, cotton-seed oil imports rose notably to $X in 2021. Overall, imports showed a noticeable slump. The most prominent rate of growth was recorded in 2019 when imports increased by 789% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) was the main supplier of cotton-seed oil to China, with a 90% share of total imports. Moreover, cotton-seed oil imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X kg), more than tenfold. Sweden (X kg) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (0.0% per year) and Sweden (+41.4% per year).

In value terms, the United States ($X) constituted the largest supplier of cotton-seed oil to China, comprising 70% of total imports. The second position in the ranking was held by Spain ($X), with a 12% share of total imports. It was followed by Sweden, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+8.6% per year) and Sweden (+44.8% per year).

Import Prices by Country

In 2021, the average cotton-seed oil import price amounted to $X per ton, increasing by 106% against the previous year. In general, the import price showed a modest expansion. The pace of growth appeared the most rapid in 2017 an increase of 165%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+40.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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