Australia - Castor Oil Seed - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCastor Oil Seed Price in Australia - 2023
Contents:
- Castor Oil Seed Price in Australia (CIF) - 2023
- Castor Oil Seed Price in Australia (FOB) - 2022
- Castor Oil Seed Imports in Australia
- Castor Oil Seed Exports in Australia
Castor Oil Seed Price in Australia (CIF) - 2023
In July 2023, the average castor oil seed import price amounted to $2,313 per ton, with an increase of 28% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $2,879 per ton in September 2022; however, from October 2022 to July 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the UK ($3,712 per ton), while the price for India stood at $2,171 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the UK (+4.2%).
Castor Oil Seed Price in Australia (FOB) - 2022
In 2022, the average castor oil seed export price amounted to $4,248 per ton, increasing by 15% against the previous year. In general, the export price, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2015 an increase of 38%. The export price peaked at $6,351 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($5,296 per ton), while the average price for exports to Fiji ($2,674 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 Germany (+61.7%), while the prices for the other major destinations experienced mixed trend patterns.
Castor Oil Seed Imports in Australia
After three years of growth, supplies from abroad of castor oil seed decreased by -8.1% to 1.6K tons in 2022. The total import volume increased at an average annual rate of +11.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24%. As a result, imports attained the peak of 1.8K tons, and then shrank in the following year.
In value terms, castor oil seed imports surged to $4M in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 40% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.
| Import of Castor Oil Seed in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2.1 | 1.9 | 3.0 | 3.7 | 20.8% |
| United States | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Brazil | N/A | N/A | N/A | 0.1 | 0% |
| Others | N/A | 0.2 | 0.1 | 0.1 | -29.3% |
| Total | 2.2 | 2.3 | 3.2 | 4.0 | 22.1% |
Top Suppliers of Castor Oil Seed to Australia in 2022:
- India (1521.8 tons)
- United States (33.2 tons)
- Brazil (25.9 tons)
Castor Oil Seed Exports in Australia
For the fourth year in a row, Australia recorded growth in shipments abroad of castor oil seed, which increased by 66% to 23 tons in 2022. In general, exports saw significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 174% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, castor oil seed exports skyrocketed to $98K in 2022. Overall, exports posted significant growth. The growth pace was the most rapid in 2020 with an increase of 248%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Castor Oil Seed in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | N/A | N/A | 21.1 | 33.2 | 57.3% |
| India | N/A | N/A | N/A | 31.8 | 0% |
| New Zealand | 3.0 | 16.8 | 7.0 | 25.3 | 103.5% |
| Fiji | 4.4 | 13.0 | 9.2 | 5.0 | 4.4% |
| Chile | N/A | N/A | N/A | 2.5 | 0% |
| Indonesia | N/A | 4.8 | N/A | N/A | 0% |
| South Africa | N/A | N/A | 5.7 | N/A | 0% |
| Others | 3.2 | 2.4 | 8.6 | 0.1 | -68.5% |
| Total | 10.6 | 37.0 | 51.5 | 97.9 | 109.8% |
Top Export Markets for Castor Oil Seed from Australia in 2022:
- Germany (7.7 tons)
- New Zealand (6.6 tons)
- India (6.0 tons)
- Fiji (1.9 tons)
- Chile (0.9 tons)
This report provides an in-depth analysis of the castor oil seed market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 266 -
- JSIC 0981 -
- JSIC 0982 -
- JSIC 1063 -
Country coverage:
- Australia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Australia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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