Jordan: Linseed Oil Market 2024

Linseed Oil Market Size in Jordan

In 2022, after three years of growth, there was significant decline in the Jordanian linseed oil market, when its value decreased by -95.7% to $X. Overall, consumption recorded a precipitous curtailment. Linseed oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Linseed Oil Production in Jordan

In value terms, linseed oil production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 19%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Linseed Oil Exports

Exports from Jordan

In 2022, approx. X tons of linseed oil were exported from Jordan; jumping by 39% compared with the previous year. Over the period under review, exports recorded buoyant growth. The growth pace was the most rapid in 2013 with an increase of 1,646%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, linseed oil exports surged to $X in 2022. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 2,125% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Palestine (X tons) was the main destination for linseed oil exports from Jordan, with a 69% share of total exports. Moreover, linseed oil exports to Palestine exceeded the volume sent to the second major destination, Yemen (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Palestine totaled +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+38.0% per year) and Sweden (+18.0% per year).

In value terms, Yemen ($X) remains the key foreign market for linseed oil exports from Jordan, comprising 46% of total exports. The second position in the ranking was taken by Palestine ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Yemen stood at +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Palestine (-0.9% per year) and Sweden (+17.4% per year).

Export Prices by Country

The average linseed oil export price stood at $X per ton in 2022, picking up by 24% against the previous year. Overall, the export price, however, showed a perceptible descent. The growth pace was the most rapid in 2019 an increase of 166%. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Yemen ($X per ton), while the average price for exports to Palestine ($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 Iraq (+7.4%), while the prices for the other major destinations experienced a decline.

Linseed Oil Imports

Imports into Jordan

In 2022, supplies from abroad of linseed oil decreased by -91.2% to X tons, falling for the second year in a row after two years of growth. In general, imports continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2019 with an increase of 50% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, linseed oil imports contracted significantly to $X in 2022. Overall, imports continue to indicate a sharp contraction. The growth pace was the most rapid in 2019 with an increase of 78%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X kg) and the United States (X kg) were the main suppliers of linseed oil imports to Jordan.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +1,136.9%).

In value terms, the largest linseed oil suppliers to Jordan were Turkey ($X) and the United States ($X).

Turkey, with a CAGR of +2,566.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2022, the average linseed oil import price amounted to $X per ton, waning by -13.1% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average import price increased by 19% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+115.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform