Southern Asia: Linseed Oil Market 2024

Linseed Oil Market Size in Southern Asia

The South Asian linseed oil market contracted modestly to $X in 2022, which is down by -2.4% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Linseed Oil Production in Southern Asia

In value terms, linseed oil production expanded notably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 328% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Linseed Oil Exports

Exports in Southern Asia

In 2022, overseas shipments of linseed oil decreased by -23.1% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 138% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, linseed oil exports declined rapidly to $X in 2022. Over the period under review, exports, however, enjoyed resilient growth. The growth pace was the most rapid in 2020 when exports increased by 100% against the previous year. The level of export peaked at $X in 2021, and then dropped significantly in the following year.

Exports by Country

Bangladesh (X tons) and India (X tons) dominates exports structure, together committing 97% of total exports. Pakistan (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Bangladesh (with a CAGR of +81.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, India ($X) remains the largest linseed oil supplier in Southern Asia, comprising 65% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual growth rate of value in India amounted to +5.8%. In the other countries, the average annual rates were as follows: Bangladesh (+77.5% per year) and Pakistan (+9.0% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, shrinking by -19% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 an increase of 104%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then reduced sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.3%), while the other leaders experienced mixed trends in the export price figures.

Linseed Oil Imports

Imports in Southern Asia

In 2022, linseed oil imports in Southern Asia reduced sharply to X tons, waning by -33% on the previous year's figure. Overall, imports saw a slight decrease. The pace of growth was the most pronounced in 2016 with an increase of 766% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, linseed oil imports reduced to $X in 2022. In general, imports, however, enjoyed a tangible expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 518% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

India dominates imports structure, reaching X tons, which was near 94% of total imports in 2022. Pakistan (X tons) took a little share of total imports.

Imports into India decreased at an average annual rate of -1.1% from 2012 to 2022. Pakistan experienced a relatively flat trend pattern. While the share of India (+7.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported linseed oil in Southern Asia, comprising 96% of total imports. The second position in the ranking was held by Pakistan ($X), with a 2.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value in India amounted to +4.0%.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, surging by 41% against the previous year. In general, the import price showed a tangible increase. The pace of growth appeared the most rapid in 2021 when the import price increased by 54%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Pakistan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.2%).

Source: IndexBox Platform

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