CIS: Cottonseed Market 2024

Cottonseed Market Size in CIS

The CIS cottonseed market reduced to $X in 2022, with a decrease of -6.4% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Cottonseed Production in CIS

In value terms, cottonseed production declined markedly to $X in 2022 estimated in export price. In general, production posted a mild increase. The most prominent rate of growth was recorded in 2019 with an increase of 249% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Uzbekistan (X tons) remains the largest cottonseed producing country in the CIS, comprising approx. 74% of total volume. Moreover, cottonseed production in Uzbekistan exceeded the figures recorded by the second-largest producer, Tajikistan (X tons), eightfold. The third position in this ranking was held by Kazakhstan (X tons), with an 8.2% share.

In Uzbekistan, cottonseed production contracted by an average annual rate of -1.5% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Tajikistan (-0.9% per year) and Kazakhstan (-1.4% per year).

Cottonseed Exports

Exports in CIS

For the fourth year in a row, the CIS recorded growth in shipments abroad of cottonseed, which increased by 47% to X tons in 2022. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 163% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, cottonseed exports surged to $X in 2022. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 225%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Azerbaijan represented the main exporter of cottonseed in the CIS, with the volume of exports amounting to X tons, which was near 76% of total exports in 2022. It was distantly followed by Kazakhstan (X tons), generating a 21% share of total exports. Uzbekistan (X tons) followed a long way behind the leaders.

Exports from Azerbaijan increased at an average annual rate of +34.6% from 2012 to 2022. At the same time, Uzbekistan (+121.4%) and Kazakhstan (+21.1%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +121.4% from 2012-2022. From 2012 to 2022, the share of Azerbaijan and Uzbekistan increased by +20 and +1.7 percentage points, respectively.

In value terms, Azerbaijan ($X) remains the largest cottonseed supplier in the CIS, comprising 70% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Azerbaijan stood at +32.7%. In the other countries, the average annual rates were as follows: Kazakhstan (+22.7% per year) and Uzbekistan (+143.4% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, dropping by -2.9% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cottonseed export price decreased by -5.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 49% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 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 Uzbekistan ($X per ton), while Kazakhstan ($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 (+9.9%), while the other leaders experienced mixed trends in the export price figures.

Cottonseed Imports

Imports in CIS

In 2022, the amount of cottonseed imported in the CIS skyrocketed to X tons, picking up by 35% compared with 2021 figures. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 162%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, cottonseed imports skyrocketed to $X in 2022. In general, imports saw a significant increase. The growth pace was the most rapid in 2017 with an increase of 141%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

Tajikistan represented the major importer of cottonseed in the CIS, with the volume of imports amounting to X tons, which was approx. 71% of total imports in 2022. Azerbaijan (X tons) ranks second in terms of the total imports with a 20% share, followed by Kazakhstan (5.4%). Kyrgyzstan (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cottonseed imports into Tajikistan stood at +37.4%. At the same time, Azerbaijan (+40.4%), Kazakhstan (+39.4%) and Kyrgyzstan (+16.1%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +40.4% from 2012-2022. Tajikistan (+20 p.p.), Azerbaijan (+8.2 p.p.) and Kazakhstan (+2 p.p.) significantly strengthened its position in terms of the total imports, while Kyrgyzstan saw its share reduced by -11.9% from 2012 to 2022, respectively.

In value terms, Azerbaijan ($X) constitutes the largest market for imported cottonseed in the CIS, comprising 65% of total imports. The second position in the ranking was held by Tajikistan ($X), with a 20% share of total imports. It was followed by Kazakhstan, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Azerbaijan stood at +37.9%. In the other countries, the average annual rates were as follows: Tajikistan (+14.9% per year) and Kazakhstan (+36.1% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, declining by -2.4% against the previous year. Overall, the import price continues to indicate a deep downturn. The growth pace was the most rapid in 2016 an increase of 37% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Azerbaijan ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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