Pakistan: Linseed Oil Market 2024

Linseed Oil Market Size in Pakistan

The Pakistani linseed oil market expanded remarkably to $X in 2022, surging by 12% against the previous year. Over the period under review, consumption, however, showed a pronounced slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Linseed Oil Production in Pakistan

In value terms, linseed oil production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2018 with an increase of 94% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Linseed Oil Exports

Exports from Pakistan

In 2022, the amount of linseed oil exported from Pakistan amounted to X tons, approximately mirroring the previous year. In general, exports posted pronounced growth. The growth pace was the most rapid in 2019 with an increase of 1,784%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports dropped notably to $X in 2022. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 773% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

Gambia (X tons), South Africa (X tons) and Afghanistan (X tons) were the main destinations of linseed oil exports from Pakistan, with a combined 97% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +75.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Gambia ($X) remains the key foreign market for linseed oil exports from Pakistan, comprising 51% of total exports. The second position in the ranking was taken by Afghanistan ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Gambia stood at +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (+29.8% per year) and South Africa (+54.5% per year).

Export Prices by Country

In 2022, the average linseed oil export price amounted to $X per ton, falling by -21.6% against the previous year. Overall, the export price, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of 192% against the previous year. The export price peaked at $X per ton in 2021, and then contracted rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Afghanistan ($X per ton), while the average price for exports to South Africa ($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 Gambia (+8.5%), while the prices for the other major destinations experienced a decline.

Linseed Oil Imports

Imports into Pakistan

In 2022, approx. X tons of linseed oil were imported into Pakistan; jumping by 85% against the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 565% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, linseed oil imports surged to $X in 2022. In general, imports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in 2020 with an increase of 403% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest supplier of linseed oil to Pakistan, with a 48% share of total imports. Moreover, linseed oil imports from Ukraine exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was held by China (X tons), with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from Ukraine amounted to +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+27.0% per year) and China (+5.1% per year).

In value terms, Ukraine ($X) constituted the largest supplier of linseed oil to Pakistan, comprising 49% of total imports. The second position in the ranking was held by Belgium ($X), with a 12% share of total imports. It was followed by China, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from Ukraine totaled +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+26.1% per year) and China (+1.6% per year).

Import Prices by Country

The average linseed oil import price stood at $X per ton in 2022, shrinking by -28.3% against the previous year. In general, the import price recorded a slight contraction. The pace of growth appeared the most rapid in 2021 an increase of 64%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+11.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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