Eastern Asia: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in Eastern Asia

In 2021, the East Asian cotton-seed oil market decreased by -3.8% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, saw a deep downturn. The most prominent rate of growth was recorded in 2020 when the market value increased by 8.1% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Cotton-Seed Oil Production in Eastern Asia

In value terms, cotton-seed oil production reduced to $X in 2021 estimated in export price. Overall, production, however, saw a deep contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 12%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Cotton-Seed Oil Exports

Exports in Eastern Asia

In 2021, exports of cotton-seed oil in Eastern Asia surged to X tons, increasing by 41% on 2020. In general, exports posted a notable expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 1,434% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, cotton-seed oil exports soared to $X in 2021. Over the period under review, exports continue to indicate a perceptible expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 938%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. 95% of total exports in 2021. Japan (X tons) and Taiwan (Chinese) (X tons) took a minor share of total exports.

China was also the fastest-growing in terms of the cotton-seed oil exports, with a CAGR of +10.3% from 2012 to 2021. At the same time, Japan (+4.7%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-24.6%) illustrated a downward trend over the same period. While the share of China (+42 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-33.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest cotton-seed oil supplier in Eastern Asia, comprising 92% of total exports. The second position in the ranking was taken by Japan ($X), with a 6.3% share of total exports.

In China, cotton-seed oil exports increased at an average annual rate of +11.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+3.3% per year) and Taiwan (Chinese) (-28.4% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, increasing by 67% against the previous year. Export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cotton-seed oil export price increased by +93.4% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.0%), while the other leaders experienced a decline in the export price figures.

Cotton-Seed Oil Imports

Imports in Eastern Asia

After two years of decline, supplies from abroad of cotton-seed oil increased by 42% to X tons in 2021. Overall, imports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 65%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, cotton-seed oil imports soared to $X in 2021. In general, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 45%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Japan represented the key importing country with an import of about X tons, which finished at 87% of total imports. It was distantly followed by South Korea (X tons), comprising a 13% share of total imports.

Imports into Japan decreased at an average annual rate of -3.1% from 2012 to 2021. At the same time, South Korea (+2.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.4% from 2012-2021. From 2012 to 2021, the share of Japan and South Korea increased by +44 and +8.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported cotton-seed oil in Eastern Asia, comprising 79% of total imports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Japan amounted to -6.3%.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with a decrease of -5.8% against the previous year. Overall, the import price recorded a slight setback. The growth pace was the most rapid in 2013 an increase of 8.5%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while Japan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.6%).

Source: IndexBox Platform

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