Uganda: Linseed Oil Market 2024

Linseed Oil Market Size in Uganda

In 2022, the Ugandan linseed oil market increased by 1.1% to $X, rising for the seventh consecutive year after three years of decline. Over the period under review, consumption recorded a prominent increase. Linseed oil consumption peaked in 2022 and is expected to retain growth in the near future.

Linseed Oil Production in Uganda

In value terms, linseed oil production expanded to $X in 2022 estimated in export price. In general, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 -1.5% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 24%. Linseed oil production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Linseed Oil Exports

Exports from Uganda

For the fourth consecutive year, Uganda recorded decline in shipments abroad of linseed oil, which decreased by -7.1% to X tons in 2022. In general, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 103%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports shrank to $X in 2022. Over the period under review, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2013 with an increase of 160%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Rwanda (X tons) was the main destination for linseed oil exports from Uganda, with a 99% share of total exports. It was followed by Democratic Republic of the Congo (X kg), with a 0.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Rwanda totaled +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (-40.0% per year) and Burundi (-57.4% per year).

In value terms, Rwanda ($X) remains the key foreign market for linseed oil exports from Uganda, comprising 100% of total exports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a 0.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Rwanda amounted to +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (-39.4% per year) and Burundi (-53.7% per year).

Export Prices by Country

The average linseed oil export price stood at $X per ton in 2022, leveling off at the previous year. In general, the export price, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 166%. As a result, the export price attained the peak level of $X per ton, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Burundi ($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 the United States (+47.4%), while the prices for the other major destinations experienced more modest paces of growth.

Linseed Oil Imports

Imports into Uganda

In 2022, supplies from abroad of linseed oil decreased by -4.1% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 739% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, linseed oil imports totaled $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 409%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) was the main supplier of linseed oil to Uganda, with a 99% share of total imports. It was followed by Democratic Republic of the Congo (X kg), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled +17.7%.

In value terms, India ($X) constituted the largest supplier of linseed oil to Uganda, comprising 98% of total imports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a 0.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value from India was relatively modest.

Import Prices by Country

In 2022, the average linseed oil import price amounted to $X per ton, picking up by 4.5% against the previous year. Overall, the import price, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2017 when the average import price increased by 43% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the price for India stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Rwanda (+43.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform