Indonesia: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in Indonesia

After two years of growth, the Indonesian cotton-seed oil market decreased by -6% to $X in 2021. Overall, consumption showed a relatively flat trend pattern. Cotton-seed oil consumption peaked at $X in 2020, and then declined in the following year.

Cotton-Seed Oil Production in Indonesia

In value terms, cotton-seed oil production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 19%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Cotton-Seed Oil Exports

Exports from Indonesia

In 2021, shipments abroad of cotton-seed oil was finally on the rise to reach X tons after two years of decline. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 135%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, cotton-seed oil exports soared to $X in 2021. In general, exports saw a prominent expansion. The pace of growth was the most pronounced in 2013 when exports increased by 177%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Benin (X tons) and Brunei Darussalam (X tons) were the main destinations of cotton-seed oil exports from Indonesia, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Benin (with a CAGR of +51.2%), while the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) remains the key foreign market for cotton-seed oil exports from Indonesia, comprising 80% of total exports. The second position in the ranking was held by Benin ($X), with a 17% share of total exports. It was followed by Brunei Darussalam, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan totaled +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+53.0% per year) and Brunei Darussalam (-21.5% per year).

Export Prices by Country

In 2021, the average cotton-seed oil export price amounted to $X per ton, growing by 6.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2019 an increase of 34%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brunei Darussalam (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton-Seed Oil Imports

Imports into Indonesia

In 2021, the amount of cotton-seed oil imported into Indonesia shrank remarkably to X kg, reducing by -27.3% on 2020. Over the period under review, imports continue to indicate a sharp reduction. The pace of growth was the most pronounced in 2018 when imports increased by 2,006% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, cotton-seed oil imports declined significantly to $X in 2021. In general, imports showed a sharp downturn. The growth pace was the most rapid in 2018 with an increase of 2,642% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X kg) constituted the largest supplier of cotton-seed oil to Indonesia, accounting for a 38% share of total imports. Moreover, cotton-seed oil imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X kg), twofold. The third position in this ranking was taken by Malaysia (X kg), with a 2.1% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled -42.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-27.1% per year) and Malaysia (-54.5% per year).

In value terms, Spain ($X), the United States ($X) and China ($X) were the largest cotton-seed oil suppliers to Indonesia, with a combined 61% share of total imports. These countries were followed by Turkey and Malaysia, which together accounted for a further 2.1%.

Among the main suppliers, Turkey, with a CAGR of 0.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average cotton-seed oil import price stood at $X per ton in 2021, rising by 9.3% against the previous year. Overall, the import price showed a moderate increase. The most prominent rate of growth was recorded in 2020 an increase of 35% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :