Greece: Cottonseed Market 2024

Cottonseed Market Size in Greece

The Greek cottonseed market dropped to $X in 2022, which is down by -7.3% against the previous year. In general, consumption, however, continues to indicate prominent growth. Cottonseed consumption peaked at $X in 2021, and then shrank in the following year.

Cottonseed Production in Greece

In value terms, cottonseed production fell modestly to $X in 2022 estimated in export price. Overall, production, however, showed a resilient increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 100% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

In 2022, the average yield of cottonseed in Greece amounted to less than X kg per ha, approximately reflecting the previous year. Over the period under review, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of cottonseed were harvested in Greece; stabilizing at the previous year's figure. In general, the harvested area recorded a relatively flat trend pattern.

Cottonseed Exports

Exports from Greece

In 2022, the amount of cottonseed exported from Greece surged to X tons, jumping by 29% compared with 2021. Overall, total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -11.8% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 52% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, cottonseed exports surged to $X in 2022. In general, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +121.2% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Saudi Arabia (X tons) and Spain (X tons) were the main destinations of cottonseed exports from Greece, with a combined 79% share of total exports. The United Arab Emirates, Japan, Qatar and Oman lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +39.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cottonseed exported from Greece were Italy ($X), Saudi Arabia ($X) and Spain ($X), with a combined 80% share of total exports. The United Arab Emirates, Qatar, Japan and Oman lagged somewhat behind, together comprising a further 13%.

Among the main countries of destination, Qatar, with a CAGR of +52.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cottonseed export price amounted to $X per ton, with an increase of 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 48%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to Japan ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+30.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cottonseed Imports

Imports into Greece

In 2022, overseas purchases of cottonseed increased by 72% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 109% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cottonseed imports skyrocketed to $X in 2022. In general, imports, however, recorded a deep downturn. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest cottonseed supplier to Greece, accounting for a 60% share of total imports. Moreover, cottonseed imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+16.6% per year) and Turkey (-23.7% per year).

In value terms, the largest cottonseed suppliers to Greece were Spain ($X), France ($X) and Israel ($X), with a combined 91% share of total imports.

Among the main suppliers, Israel, with a CAGR of +15.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cottonseed import price stood at $X per ton in 2022, increasing by 11% against the previous year. Over the period under review, the import price showed a measured increase. The most prominent rate of growth was recorded in 2015 an increase of 359%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+18.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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