Jordan: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Jordan

The Jordanian chemically modified oils market surged to $X in 2022, picking up by 40% against the previous year. Over the period under review, consumption enjoyed a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Chemically Modified Oils Production in Jordan

In value terms, chemically modified oils production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 39%. Chemically modified oils production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Chemically Modified Oils Exports

Exports from Jordan

In 2022, the amount of animal or vegetable fats and oils chemically modified exported from Jordan reduced markedly to X tons, waning by -89.3% on the previous year. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 468%. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced sharply in the following year.

In value terms, chemically modified oils exports contracted rapidly to $X in 2022. Overall, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 340% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced notably in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for chemically modified oils exports from Jordan, accounting for a 94% share of total exports. Moreover, chemically modified oils exports to the Netherlands exceeded the volume sent to the second major destination, Belgium (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled +66.9%.

In value terms, the Netherlands ($X) emerged as the key foreign market for animal or vegetable fats and oils chemically modified exports from Jordan, comprising 75% of total exports. The second position in the ranking was taken by Belgium ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Netherlands amounted to +48.0%.

Export Prices by Country

In 2022, the average chemically modified oils export price amounted to $X per ton, falling by -71.2% against the previous year. In general, the export price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2021 when the average export price increased by 50% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into Jordan

In 2022, imports of animal or vegetable fats and oils chemically modified into Jordan declined remarkably to X tons, falling by -74.4% on the previous year. Over the period under review, imports showed a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 203%. As a result, imports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, chemically modified oils imports dropped rapidly to $X in 2022. In general, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 198% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

India (X tons), the United States (X tons) and China (X tons) were the main suppliers of chemically modified oils imports to Jordan, with a combined 69% share of total imports. Belgium and Turkey lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +56.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United States ($X) and China ($X) appeared to be the largest chemically modified oils suppliers to Jordan, together comprising 62% of total imports. Belgium and Turkey lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, Turkey, with a CAGR of +39.3%, 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

The average chemically modified oils import price stood at $X per ton in 2022, rising by 28% against the previous year. Overall, the import price, however, saw a mild slump. The most prominent rate of growth was recorded in 2019 an increase of 30% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform