Saudi Arabia: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in Saudi Arabia

In 2021, after two years of growth, there was decline in the Saudi cotton-seed oil market, when its value decreased by -2.6% to $X. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +58.5% against 2018 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Cotton-Seed Oil Production in Saudi Arabia

In value terms, cotton-seed oil production fell to $X in 2021 estimated in export price. In general, the total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +97.4% against 2018 indices. The pace of growth was the most pronounced in 2019 with an increase of 83%. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Cotton-Seed Oil Exports

Exports from Saudi Arabia

In 2021, after six years of decline, there was significant growth in shipments abroad of cotton-seed oil, when their volume increased by 540% to X tons. Overall, exports, however, continue to indicate a precipitous decrease. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cotton-seed oil exports soared to $X in 2021. In general, exports, however, faced a sharp reduction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Lebanon (X tons) was the main destination for cotton-seed oil exports from Saudi Arabia, accounting for a 93% share of total exports. It was followed by Bahrain (X kg), with a 2.7% share of total exports. The third position in this ranking was held by Sudan (X kg), with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lebanon stood at -24.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-26.5% per year) and Sudan (-24.8% per year).

In value terms, Lebanon ($X) remains the key foreign market for cotton-seed oil exports from Saudi Arabia, comprising 76% of total exports. The second position in the ranking was held by Sudan ($X), with an 8.8% share of total exports. It was followed by Bahrain, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to Lebanon amounted to -29.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (-19.7% per year) and Bahrain (-22.5% per year).

Export Prices by Country

The average cotton-seed oil export price stood at $X per ton in 2021, reducing by -28.5% against the previous year. In general, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2019 an increase of 106%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton-Seed Oil Imports

Imports into Saudi Arabia

In 2014, the amount of cotton-seed oil imported into Saudi Arabia stood at X tons, almost unchanged from the previous year's figure. Overall, imports enjoyed a significant expansion. The smallest decline of 99.9% was in 2013. Over the period under review, imports reached the maximum in 2014 and are likely to see steady growth in the immediate term.

In value terms, cotton-seed oil imports totaled $X in 2014. In general, imports continue to indicate resilient growth. The smallest decline of 99.9% was in 2013. Over the period under review, imports hit record highs in 2014 and are expected to retain growth in years to come.

Imports by Country

In 2014, the United Arab Emirates (X tons) was the main supplier of cotton-seed oil to Saudi Arabia, with a approx. 96% share of total imports.

From 2012 to 2014, the average annual growth rate of volume from the United Arab Emirates was relatively modest.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of cotton-seed oil to Saudi Arabia.

From 2012 to 2014, the average annual rate of growth in terms of value from the United Arab Emirates was relatively modest.

Import Prices by Country

The average cotton-seed oil import price stood at $X per ton in 2014, stabilizing at the previous year. Overall, the import price faced a abrupt curtailment. The pace of growth appeared the most rapid in 2013 a decrease of 99.9%. The import price peaked at $X per ton in 2012; however, from 2013 to 2014, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2014, the rate of growth in terms of prices for the United Arab Emirates amounted to 0.0% per year.

Source: IndexBox Platform

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