CIS: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in CIS

In 2022, the CIS refined cotton-seed oil market increased by 1.6% to $X, rising for the second year in a row after four years of decline. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Refined Cotton-Seed Oil Production in CIS

In value terms, refined cotton-seed oil production totaled $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 10% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Refined Cotton-Seed Oil Exports

Exports in CIS

Refined cotton-seed oil exports surged to X tons in 2022, jumping by 68% against 2021 figures. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 618%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, refined cotton-seed oil exports surged to $X in 2022. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2016 with an increase of 622%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Kazakhstan (X tons) was the main exporter of refined cotton-seed oil, generating 80% of total exports. Azerbaijan (X tons) ranks second in terms of the total exports with an 11% share, followed by Uzbekistan (8.1%).

Kazakhstan was also the fastest-growing in terms of the refined cotton-seed oil exports, with a CAGR of +46.7% from 2012 to 2022. At the same time, Azerbaijan (+29.8%) displayed positive paces of growth. By contrast, Uzbekistan (-43.9%) illustrated a downward trend over the same period. Azerbaijan (+11 p.p.) and Uzbekistan (+8.1 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -10.6% from 2012 to 2022, respectively.

In value terms, Kazakhstan ($X) remains the largest refined cotton-seed oil supplier in the CIS, comprising 83% of total exports. The second position in the ranking was held by Azerbaijan ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan amounted to +48.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Azerbaijan (+34.8% per year) and Uzbekistan (-32.3% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, surging by 2.8% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 77% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan ($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 (+20.8%), while the other leaders experienced more modest paces of growth.

Refined Cotton-Seed Oil Imports

Imports in CIS

Refined cotton-seed oil imports skyrocketed to X tons in 2022, jumping by 177% on 2021. Over the period under review, imports saw significant growth. The pace of growth was the most pronounced in 2015 when imports increased by 1,850%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, refined cotton-seed oil imports skyrocketed to $X in 2022. In general, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 1,634%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Tajikistan (X tons) and Uzbekistan (X tons) were the main importers of refined cotton-seed oil in 2022, amounting to near 43% and 37% of total imports, respectively. It was distantly followed by Kyrgyzstan (X tons), making up a 20% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Tajikistan (with a CAGR of +33.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Tajikistan ($X) and Kyrgyzstan ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 99% share of total imports.

In terms of the main importing countries, Tajikistan, with a CAGR of +32.0%, recorded 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 the CIS stood at $X per ton in 2022, approximately reflecting the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 59% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 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 Kyrgyzstan ($X per ton), while Tajikistan ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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