Japan: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in Japan

The Japanese refined cotton-seed oil market dropped slightly to $X in 2022, leveling off at the previous year. In general, consumption showed a mild reduction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Refined Cotton-Seed Oil Production in Japan

In value terms, refined cotton-seed oil production fell modestly to $X in 2022 estimated in export price. Overall, production saw a mild descent. The most prominent rate of growth was recorded in 2015 when the production volume increased by 16% against the previous year. Refined cotton-seed oil production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Refined Cotton-Seed Oil Exports

Exports from Japan

In 2022, refined cotton-seed oil exports from Japan declined rapidly to X tons, shrinking by -39.4% on the previous year. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 342% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined cotton-seed oil exports dropped dramatically to $X in 2022. In general, exports recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 421% against the previous year. As a result, the exports reached the peak of $X, and then fell significantly in the following year.

Exports by Country

Singapore (X tons) was the main destination for refined cotton-seed oil exports from Japan, accounting for a 59% share of total exports. Moreover, refined cotton-seed oil exports to Singapore exceeded the volume sent to the second major destination, the United States (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore stood at +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+9.1% per year) and Taiwan (Chinese) (+14.9% per year).

In value terms, Singapore ($X) emerged as the key foreign market for refined cotton-seed oil exports from Japan, comprising 58% of total exports. The second position in the ranking was taken by the United States ($X), with a 20% share of total exports. It was followed by Taiwan (Chinese), with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore stood at +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.2% per year) and Taiwan (Chinese) (+13.0% per year).

Export Prices by Country

The average refined cotton-seed oil export price stood at $X per ton in 2022, shrinking by -9.3% against the previous year. Over the period under review, the export price recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 97% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Hong Kong SAR (+1.5%), while the prices for the other major destinations experienced a decline.

Refined Cotton-Seed Oil Imports

Imports into Japan

In 2022, approx. X tons of refined cotton-seed oil were imported into Japan; falling by -64.8% against the previous year's figure. In general, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 85%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, refined cotton-seed oil imports declined notably to $X in 2022. Over the period under review, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 when imports increased by 66%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) was the main refined cotton-seed oil supplier to Japan, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +3.6%.

In value terms, Turkey ($X) constituted the largest supplier of refined cotton-seed oil to Japan.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +3.9%.

Import Prices by Country

In 2022, the average refined cotton-seed oil import price amounted to $X per ton, surging by 73% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to +0.2% per year.

Source: IndexBox Platform

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