Ethiopia: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in Ethiopia

The Ethiopian refined cotton-seed oil market shrank to $X in 2022, dropping by -5.2% against the previous year. In general, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.7% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Refined Cotton-Seed Oil Production in Ethiopia

In value terms, refined cotton-seed oil production contracted slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.8% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 42%. Refined cotton-seed oil production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Refined Cotton-Seed Oil Exports

Exports from Ethiopia

In 2021, overseas shipments of refined cotton-seed oil decreased by 0% to X kg, falling for the second consecutive year after three years of growth. Over the period under review, exports faced a deep downturn. The growth pace was the most rapid in 2019 with an increase of 2.1%. As a result, the exports attained the peak of X kg. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, refined cotton-seed oil exports totaled $X in 2021. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2019 when exports increased by 68% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Sweden (X kg) and Oman (X kg) were the main destinations of refined cotton-seed oil exports from Ethiopia.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of 0.0%).

From 2012 to 2021, the average annual growth rate of value to Sweden was relatively modest.

Export Prices by Country

The average refined cotton-seed oil export price stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, the export price enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 65%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Cotton-Seed Oil Imports

Imports into Ethiopia

In 2022, the amount of refined cotton-seed oil imported into Ethiopia dropped markedly to X tons, declining by -35.3% compared with the previous year's figure. Over the period under review, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 165% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refined cotton-seed oil imports contracted markedly to $X in 2022. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 222% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) was the main refined cotton-seed oil supplier to Ethiopia, with a 93% share of total imports. It was followed by Yemen (X tons), with a 2.8% share of total imports. The third position in this ranking was held by South Africa (X tons), with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +32.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Yemen (-34.7% per year) and South Africa (+14.2% per year).

In value terms, Turkey ($X) constituted the largest supplier of refined cotton-seed oil to Ethiopia, comprising 91% of total imports. The second position in the ranking was taken by South Africa ($X), with a 3.9% share of total imports. It was followed by Yemen, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +29.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+19.7% per year) and Yemen (-34.5% per year).

Import Prices by Country

The average refined cotton-seed oil import price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the import price, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 65% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform