United Kingdom: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in the UK

In 2021, the UK cotton-seed oil market increased by 24% to $X, rising for the fourth year in a row after two years of decline. In general, consumption recorded significant growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Cotton-Seed Oil Production in the UK

In value terms, cotton-seed oil production declined markedly to $X in 2021 estimated in export price. Overall, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% 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 +74.2% against 2017 indices. The pace of growth appeared the most rapid in 2020 with an increase of 55%. As a result, production reached the peak level of $X, and then fell dramatically in the following year.

Cotton-Seed Oil Exports

Exports from the UK

In 2021, overseas shipments of crude cotton-seed oil decreased by -53% to X kg, falling for the fourth consecutive year after two years of growth. In general, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2017 when exports increased by 89%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, cotton-seed oil exports expanded significantly to $X in 2021. Overall, exports saw a dramatic slump. The growth pace was the most rapid in 2016 when exports increased by 7.2%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Ireland (X kg) was the main destination for cotton-seed oil exports from the UK, accounting for a 35% share of total exports. Moreover, cotton-seed oil exports to Ireland exceeded the volume sent to the second major destination, Turkey (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland totaled -40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-43.8% per year) and Japan (-56.1% per year).

In value terms, Ireland ($X) remains the key foreign market for crude cotton-seed oil exports from the UK, comprising 19% of total exports. The second position in the ranking was taken by Turkey ($X), with a 1.2% share of total exports. It was followed by Japan, with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ireland totaled -35.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-49.2% per year) and Japan (-52.5% per year).

Export Prices by Country

The average cotton-seed oil export price stood at $X per ton in 2021, picking up by 124% against the previous year. Over the period under review, the export price continues to indicate a prominent expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to the Netherlands ($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 Japan (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton-Seed Oil Imports

Imports into the UK

In 2021, purchases abroad of crude cotton-seed oil increased by 31% to X tons, rising for the third consecutive year after four years of decline. In general, imports recorded significant growth. The pace of growth was the most pronounced in 2019 with an increase of 8,062% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, cotton-seed oil imports skyrocketed to $X in 2021. Overall, imports recorded significant growth. The pace of growth appeared the most rapid in 2019 when imports increased by 9,340% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, France (X tons) constituted the largest cotton-seed oil supplier to the UK, accounting for a 87% share of total imports. Moreover, cotton-seed oil imports from France exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +61.3%.

In value terms, France ($X) constituted the largest supplier of crude cotton-seed oil to the UK, comprising 100% of total imports. The second position in the ranking was taken by the United States ($X), with a 0.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from France stood at +91.1%.

Import Prices by Country

In 2021, the average cotton-seed oil import price amounted to $X per ton, which is down by -7.9% against the previous year. Overall, the import price, however, saw prominent growth. The pace of growth was the most pronounced in 2020 an increase of 71%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+18.5%).

Source: IndexBox Platform

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