Tunisia: Linseed Oil Market 2024

Linseed Oil Market Size in Tunisia

For the third year in a row, the Tunisian linseed oil market recorded decline in sales value, which decreased by -0.3% to $X in 2022. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Linseed Oil Production in Tunisia

In value terms, linseed oil production declined to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +11.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.9% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 168%. Linseed oil production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Linseed Oil Exports

Exports from Tunisia

In 2022, approx. X tons of linseed oil were exported from Tunisia; growing by 156% compared with 2021. Overall, exports showed a perceptible increase. The growth pace was the most rapid in 2015 when exports increased by 435% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, linseed oil exports surged to $X in 2022. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 415%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mauritania (X tons), Algeria (X tons) and Burkina Faso (X tons) were the main destinations of linseed oil exports from Tunisia, together comprising 86% of total exports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +40.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for linseed oil exported from Tunisia were Mauritania ($X), Algeria ($X) and Burkina Faso ($X), together accounting for 86% of total exports.

Burkina Faso, with a CAGR of +42.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average linseed oil export price amounted to $X per ton, falling by -19% against the previous year. Over the period under review, the export price, however, saw pronounced growth. The growth pace was the most rapid in 2020 when the average export price increased by 128% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Congo ($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 Libya (+1.5%), while the prices for the other major destinations experienced mixed trend patterns.

Linseed Oil Imports

Imports into Tunisia

In 2022, purchases abroad of linseed oil was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a deep reduction. The growth pace was the most rapid in 2016 when imports increased by 34%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, linseed oil imports reduced to $X in 2022. In general, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 27% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of linseed oil imports to Tunisia, together comprising 65% of total imports. These countries were followed by Spain, which accounted for a further 1.8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of -2.0%), while imports for the other leaders experienced a decline.

In value terms, the Netherlands ($X), Belgium ($X) and Germany ($X) appeared to be the largest linseed oil suppliers to Tunisia, with a combined 67% share of total imports. Spain lagged somewhat behind, comprising a further 3.5%.

Among the main suppliers, Spain, with a CAGR of -2.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average linseed oil import price amounted to $X per ton, which is down by -28.7% against the previous year. Overall, the import price, however, enjoyed a notable expansion. The pace of growth appeared the most rapid in 2021 when the average import price increased by 91% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+78.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform