Eastern Asia: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in Eastern Asia

The East Asian refined cotton-seed oil market contracted modestly to $X in 2022, flattening at the previous year. In general, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 9.2%. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Refined Cotton-Seed Oil Production in Eastern Asia

In value terms, refined cotton-seed oil production stood at $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 10% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Refined Cotton-Seed Oil Exports

Exports in Eastern Asia

In 2022, approx. X tons of refined cotton-seed oil were exported in Eastern Asia; increasing by 128% compared with the year before. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 2,432%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined cotton-seed oil exports skyrocketed to $X in 2022. In general, exports showed a strong increase. The pace of growth was the most pronounced in 2019 with an increase of 1,331% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

The shipments of the one major exporters of refined cotton-seed oil, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the refined cotton-seed oil exports, with a CAGR of +19.1% from 2012 to 2022. While the share of China (+39 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest refined cotton-seed oil supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +21.1%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by 6.1% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined cotton-seed oil export price increased by +108.0% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 69%. The level of export peaked in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +1.7% per year.

Refined Cotton-Seed Oil Imports

Imports in Eastern Asia

In 2022, the amount of refined cotton-seed oil imported in Eastern Asia dropped markedly to X tons, falling by -65.1% compared with the previous year. In general, imports recorded a significant decrease. 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 2022, imports remained at a lower figure.

In value terms, refined cotton-seed oil imports contracted remarkably to $X in 2022. Over the period under review, imports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 46%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Japan dominates imports structure, amounting to X tons, which was near 88% of total imports in 2022. It was distantly followed by South Korea (X tons), mixing up a 9.7% share of total imports.

Japan was also the fastest-growing in terms of the refined cotton-seed oil imports, with a CAGR of -13.5% from 2012 to 2022. South Korea (-39.0%) illustrated a downward trend over the same period. Japan (+67 p.p.) significantly strengthened its position in terms of the total imports, while South Korea saw its share reduced by -68.5% from 2012 to 2022, respectively.

In value terms, Japan ($X) constitutes the largest market for imported refined cotton-seed oil in Eastern Asia, comprising 78% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports.

In Japan, refined cotton-seed oil imports contracted by an average annual rate of -11.9% over the period from 2012-2022.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, with an increase of 50% against the previous year. Import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined cotton-seed oil import price increased by +76.3% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: 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 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.8%).

Source: IndexBox Platform

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