Malaysia: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in Malaysia

The Malaysian refined cotton-seed oil market reduced slightly to $X in 2022, with a decrease of -2.9% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Cotton-Seed Oil Production in Malaysia

In value terms, refined cotton-seed oil production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 31% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Refined Cotton-Seed Oil Exports

Exports from Malaysia

In 2022, shipments abroad of refined cotton-seed oil was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted a notable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 91% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, refined cotton-seed oil exports fell to $X in 2022. Overall, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -17.4% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of 67%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for refined cotton-seed oil exports from Malaysia, accounting for a 82% share of total exports. Moreover, refined cotton-seed oil exports to Australia exceeded the volume sent to the second major destination, New Zealand (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Australia totaled +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+3.8% per year) and Singapore (+34.9% per year).

In value terms, Australia ($X) remains the key foreign market for refined cotton-seed oil exports from Malaysia, comprising 82% of total exports. The second position in the ranking was held by New Zealand ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+5.1% per year) and Singapore (+32.1% per year).

Export Prices by Country

In 2022, the average refined cotton-seed oil export price amounted to $X per ton, dropping by -15.4% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 40%. As a result, the export price attained the peak level of $X per ton, and then declined remarkably in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to Singapore ($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 New Zealand (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Refined Cotton-Seed Oil Imports

Imports into Malaysia

In 2022, approx. X tons of refined cotton-seed oil were imported into Malaysia; remaining stable against the previous year's figure. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 92%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, refined cotton-seed oil imports shrank markedly to $X in 2022. Overall, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 123%. Imports peaked at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

The United States (X tons), Brazil (X tons) and China (X tons) were the main suppliers of refined cotton-seed oil imports to Malaysia, with a combined 77% share of total imports. Argentina, Turkey, Egypt and Australia lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +285.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined cotton-seed oil suppliers to Malaysia were China ($X), the United States ($X) and Brazil ($X), together accounting for 82% of total imports. Argentina, Turkey, Australia and Egypt lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Turkey, with a CAGR of +276.1%, recorded 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 refined cotton-seed oil import price stood at $X per ton in 2022, reducing by -15.3% against the previous year. Over the period under review, the import price saw a slight slump. The pace of growth was the most pronounced in 2021 an increase of 45% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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