United Kingdom: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in the UK

The UK refined cotton-seed oil market reduced slightly to $X in 2022, declining by -1.7% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Refined Cotton-Seed Oil Production in the UK

In value terms, refined cotton-seed oil production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 52%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Refined Cotton-Seed Oil Exports

Exports from the UK

In 2022, overseas shipments of refined cotton-seed oil increased by 1,591% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, refined cotton-seed oil exports soared to $X in 2022. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 430%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana (X tons) was the main destination for refined cotton-seed oil exports from the UK, accounting for a 46% share of total exports. Moreover, refined cotton-seed oil exports to Ghana exceeded the volume sent to the second major destination, Lebanon (X tons), twofold. Ethiopia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ghana was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+198.0% per year) and Ethiopia (0.0% per year).

In value terms, the largest markets for refined cotton-seed oil exported from the UK were Ghana ($X), Spain ($X) and Australia ($X), with a combined 73% share of total exports.

Among the main countries of destination, Spain, with a CAGR of +48.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refined cotton-seed oil export price stood at $X per ton in 2022, dropping by -87.4% against the previous year. In general, the export price continues to indicate a deep slump. The growth pace was the most rapid in 2017 when the average export price increased by 222% against the previous year. The export price peaked at $X per ton in 2021, and then contracted dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Senegal ($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 Spain (+6.2%), while the prices for the other major destinations experienced a decline.

Refined Cotton-Seed Oil Imports

Imports into the UK

In 2022, overseas purchases of refined cotton-seed oil were finally on the rise to reach X tons after two years of decline. Overall, imports posted temperate growth. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, refined cotton-seed oil imports soared to $X in 2022. In general, imports posted a strong increase. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

France (X tons), India (X tons) and Romania (X tons) were the main suppliers of refined cotton-seed oil imports to the UK, with a combined 86% share of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +37.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of refined cotton-seed oil to the UK, comprising 81% of total imports. The second position in the ranking was taken by India ($X), with an 8.7% share of total imports. It was followed by Romania, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from France totaled +44.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+28.6% per year) and Romania (0.0% per year).

Import Prices by Country

In 2022, the average refined cotton-seed oil import price amounted to $X per ton, falling by -39% against the previous year. In general, the import price, however, saw a strong increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by 272%. As a result, import price reached the peak level of $X per ton, and then declined remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Romania ($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 (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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