India: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in India

In 2022, after two years of growth, there was decline in the Indian refined cotton-seed oil market, when its value decreased by -1.2% to $X. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2021, and then contracted slightly in the following year.

Refined Cotton-Seed Oil Production in India

In value terms, refined cotton-seed oil production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 51% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Refined Cotton-Seed Oil Exports

Exports from India

In 2022, overseas shipments of refined cotton-seed oil increased by 0.1% to X tons, rising for the fourth year in a row after two years of decline. In general, exports posted a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 968% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, refined cotton-seed oil exports expanded markedly to $X in 2022. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 715%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), the United States (X tons) and Australia (X tons) were the main destinations of refined cotton-seed oil exports from India, together comprising 50% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +133.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Australia ($X) and Bahrain ($X) appeared to be the largest markets for refined cotton-seed oil exported from India worldwide, with a combined 47% share of total exports. Qatar, the United Arab Emirates, Singapore, the UK and Spain lagged somewhat behind, together comprising a further 27%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +115.6%, recorded the highest rates of growth with regard to 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 refined cotton-seed oil export price amounted to $X per ton, growing by 11% against the previous year. In general, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.2% 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 +52.5% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of 94%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+177.5%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Cotton-Seed Oil Imports

Imports into India

In 2022, approx. X tons of refined cotton-seed oil were imported into India; which is down by -67.3% compared with the previous year's figure. In general, imports, however, posted a significant expansion. The growth pace was the most rapid in 2019 when imports increased by 2,454%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined sharply in the following year.

In value terms, refined cotton-seed oil imports dropped remarkably to $X in 2022. Overall, imports, however, showed significant growth. The pace of growth was the most pronounced in 2018 when imports increased by 1,704% against the previous year. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

In 2022, Benin (X tons) was the main refined cotton-seed oil supplier to India, with a 94% share of total imports. Moreover, refined cotton-seed oil imports from Benin exceeded the figures recorded by the second-largest supplier, Togo (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Benin amounted to +15.4%.

In value terms, Benin ($X) constituted the largest supplier of refined cotton-seed oil to India, comprising 89% of total imports. The second position in the ranking was held by Togo ($X), with a 4.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Benin stood at +35.8%.

Import Prices by Country

In 2022, the average refined cotton-seed oil import price amounted to $X per ton, rising by 13% against the previous year. In general, the import price, however, saw a dramatic curtailment. The pace of growth appeared the most rapid in 2017 an increase of 28%. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Benin ($X per ton), while the price for Togo stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+17.7%).

Source: IndexBox Platform

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