Kenya: Linseed Oil Market 2024

Linseed Oil Market Size in Kenya

The Kenyan linseed oil market fell to $X in 2022, which is down by -9% against the previous year. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.5% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Linseed Oil Production in Kenya

In value terms, linseed oil production dropped slightly to $X in 2022 estimated in export price. Overall, production saw buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 166% against the previous year. Linseed oil production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Linseed Oil Exports

Exports from Kenya

In 2022, overseas shipments of linseed oil increased by 124% to X tons, rising for the third year in a row after three years of decline. Overall, exports, however, saw a abrupt decline. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, linseed oil exports surged to $X in 2022. In general, exports, however, continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2013 with an increase of 59%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Tanzania (X tons) was the main destination for linseed oil exports from Kenya, accounting for a 68% share of total exports. Moreover, linseed oil exports to Tanzania exceeded the volume sent to the second major destination, Rwanda (X tons), twofold. Democratic Republic of the Congo (X kg) ranked third in terms of total exports with a 1% share.

From 2012 to 2022, the average annual growth rate of volume to Tanzania totaled -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+20.4% per year) and Democratic Republic of the Congo (-21.0% per year).

In value terms, Rwanda ($X) remains the key foreign market for linseed oil exports from Kenya, comprising 89% of total exports. The second position in the ranking was taken by Tanzania ($X), with an 8.1% share of total exports. It was followed by Germany, with a 1.4% share.

From 2012 to 2022, the average annual growth rate of value to Rwanda amounted to +38.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (-11.8% per year) and Germany (-23.9% per year).

Export Prices by Country

The average linseed oil export price stood at $X per ton in 2022, shrinking by -47% against the previous year. Over the period under review, the export price, however, saw notable growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 81% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 Rwanda ($X per ton), while the average price for exports to Tanzania ($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 Rwanda (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Linseed Oil Imports

Imports into Kenya

In 2022, the amount of linseed oil imported into Kenya shrank to X tons, declining by -14.9% on the previous year. In general, imports, however, posted a mild increase. The most prominent rate of growth was recorded in 2017 when imports increased by 257%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, linseed oil imports fell rapidly to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 224%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Belgium (X tons), the UK (X tons) and India (X tons) were the main suppliers of linseed oil imports to Kenya, together comprising 63% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +15.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest linseed oil suppliers to Kenya were Belgium ($X), India ($X) and the UK ($X), with a combined 68% share of total imports.

In terms of the main suppliers, India, with a CAGR of +17.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average linseed oil import price amounted to $X per ton, dropping by -6.7% against the previous year. Over the period under review, the import price recorded a slight decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 43% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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