Europe: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in Europe

After three years of decline, the Europe refined cotton-seed oil market increased by 29% to $X in 2022. The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Refined Cotton-Seed Oil Production in Europe

In value terms, refined cotton-seed oil production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 13% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Refined Cotton-Seed Oil Exports

Exports in Europe

In 2022, refined cotton-seed oil exports in Europe plummeted to X tons, with a decrease of -45.7% on the previous year's figure. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 131%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, refined cotton-seed oil exports shrank markedly to $X in 2022. Over the period under review, exports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2021 when exports increased by 82% against the previous year. As a result, the exports attained the peak of $X, and then contracted notably in the following year.

Exports by Country

In 2022, Greece (X tons) was the main exporter of refined cotton-seed oil, making up 47% of total exports. It was distantly followed by Poland (X tons), Germany (X tons), Italy (X tons) and Spain (X tons), together constituting a 36% share of total exports. The following exporters - France (X tons) and the UK (X tons) - each accounted for an 8.8% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to refined cotton-seed oil exports from Greece stood at -7.1%. At the same time, Poland (+134.3%), the UK (+40.9%) and France (+19.6%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Europe, with a CAGR of +134.3% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Spain (-2.0%) and Italy (-9.1%) illustrated a downward trend over the same period. While the share of Poland (+12 p.p.), the UK (+4.3 p.p.), Germany (+4.1 p.p.) and France (+4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Italy (-5.3 p.p.) and Greece (-11.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Greece ($X) emerged as the largest refined cotton-seed oil supplier in Europe, comprising 38% of total exports. The second position in the ranking was taken by Germany ($X), with a 13% share of total exports. It was followed by Spain, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value in Greece stood at -4.0%. In the other countries, the average annual rates were as follows: Germany (+3.7% per year) and Spain (+7.4% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, jumping by 18% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 export price decreased by -7.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 46%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.6%), while the other leaders experienced more modest paces of growth.

Refined Cotton-Seed Oil Imports

Imports in Europe

In 2022, purchases abroad of refined cotton-seed oil increased by 123% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 141% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, refined cotton-seed oil imports skyrocketed to $X in 2022. Overall, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, France (X tons) represented the major importer of refined cotton-seed oil, achieving 44% of total imports. Greece (X tons) took a 20% share (based on physical terms) of total imports, which put it in second place, followed by Spain (11%), the Netherlands (11%) and Bulgaria (6.1%). Belgium (X tons) took a minor share of total imports.

Imports into France increased at an average annual rate of +37.4% from 2012 to 2022. At the same time, Spain (+65.3%), the Netherlands (+37.5%), Bulgaria (+26.3%), Greece (+25.2%) and Belgium (+9.2%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in Europe, with a CAGR of +65.3% from 2012-2022. While the share of France (+29 p.p.), Spain (+11 p.p.), the Netherlands (+7.3 p.p.) and Greece (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Belgium (-8.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest refined cotton-seed oil importing markets in Europe were Spain ($X), France ($X) and the Netherlands ($X), together comprising 87% of total imports.

In terms of the main importing countries, Spain, with a CAGR of +94.4%, saw 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

In 2022, the import price in Europe amounted to $X per ton, with an increase of 111% against the previous year. In general, the import price posted a strong expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Spain ($X per ton), while Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+18.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform