Scandinavia: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in Scandinavia

The Scandinavia cotton-seed oil market contracted modestly to $X in 2021, with a decrease of -3.5% against the previous year. In general, consumption recorded a strong expansion. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Cotton-Seed Oil Production in Scandinavia

In value terms, cotton-seed oil production dropped to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Cotton-Seed Oil Exports

Exports in Scandinavia

In 2020, the amount of crude cotton-seed oil exported in Scandinavia contracted remarkably to X tons, with a decrease of -89.3% on the previous year. Overall, exports showed a significant decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 5,618%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2020, the exports stood at a somewhat lower figure.

In value terms, cotton-seed oil exports shrank significantly to $X in 2020. Over the period under review, exports faced a dramatic shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 8,514% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

In 2020, Sweden (X tons) represented the major exporter of crude cotton-seed oil in Scandinavia, making up 100% of total export.

Sweden was also the fastest-growing in terms of the crude cotton-seed oil exports, with a CAGR of -38.8% from 2012 to 2020. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) also remains the largest cotton-seed oil supplier in Scandinavia.

From 2012 to 2020, the average annual growth rate of value in Sweden amounted to -32.5%.

Export Prices by Country

In 2020, the export price in Scandinavia amounted to $X per ton, rising by 7.5% against the previous year. Over the period under review, the export price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 when the export price increased by 57% against the previous year. Over the period under review, the export prices hit record highs in 2020 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2012 to 2020, the rate of growth in terms of prices for Sweden amounted to +10.2% per year.

Cotton-Seed Oil Imports

Imports in Scandinavia

Cotton-seed oil imports surged to X tons in 2021, jumping by 136% against the previous year. In general, imports, however, showed a slight decline. The pace of growth was the most pronounced in 2014 when imports increased by 519% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, cotton-seed oil imports skyrocketed to $X in 2021. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 2,559% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Norway (X kg) represented the key importer of crude cotton-seed oil, generating 75% of total imports. It was distantly followed by Finland (X kg), mixing up a 20% share of total imports. Iceland (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cotton-seed oil imports into Norway stood at -21.6%. At the same time, Iceland (+10.6%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +10.6% from 2012-2021. By contrast, Finland (-10.4%) illustrated a downward trend over the same period. Norway (+75 p.p.) and Iceland (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Finland saw its share reduced by -28.7% from 2012 to 2021, respectively.

In value terms, Norway ($X) constitutes the largest market for imported crude cotton-seed oil in Scandinavia, comprising 86% of total imports. The second position in the ranking was held by Finland ($X), with an 8.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Norway amounted to -26.5%. The remaining importing countries recorded the following average annual rates of imports growth: Finland (-7.7% per year) and Iceland (+3.8% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, with an increase of 95% against the previous year. Overall, the import price saw buoyant growth. The growth pace was the most rapid in 2014 when the import price increased by 330% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Iceland ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform