Castor Oil Seed Price in Bangladesh - 2022

Contents:

  1. Castor Oil Seed Price in Bangladesh (CIF) - 2022
  2. Castor Oil Seed Price in Bangladesh (FOB) - 2022
  3. Castor Oil Seed Imports in Bangladesh
  4. Castor Oil Seed Exports in Bangladesh

Castor Oil Seed Price in Bangladesh (CIF) - 2022

The average castor oil seed import price stood at $3,158 per ton in 2022, declining by -26.7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 61%. As a result, import price attained the peak level of $5,186 per ton. From 2019 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($9,298 per ton), while the price for Singapore ($890 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Castor Oil Seed Price in Bangladesh (FOB) - 2022

The average castor oil seed export price stood at $872 per ton in 2022, declining by -3% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 11% against the previous year. The export price peaked at $2,281 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($2,447 per ton), while the average price for exports to Saudi Arabia amounted to $837 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (-8.6%).

Castor Oil Seed Imports in Bangladesh

Castor oil seed imports into Bangladesh soared to 178 tons in 2022, surging by 71% on 2021 figures. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 139%. As a result, imports attained the peak of 216 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, castor oil seed imports skyrocketed to $563K in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +11.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 65% against the previous year. As a result, imports attained the peak of $675K. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Castor Oil Seed in Bangladesh (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
India86.217312528949.7%
Spain232350222106-23.0%
United Kingdom46.299.655.350.12.7%
United StatesN/AN/AN/A34.30%
BrazilN/AN/AN/A29.90%
Germany17.722.610.014.3-6.9%
China6.813.29.612.020.8%
United Arab Emirates4.15.010.28.829.0%
Singapore5.72.12.43.2-17.5%
Others10.210.216.015.114.0%
Total40967545056311.2%

Top Suppliers of Castor Oil Seed to Bangladesh in 2022:

  1. India (111.3 tons)
  2. United States (20.3 tons)
  3. Brazil (12.9 tons)
  4. Spain (11.4 tons)
  5. United Kingdom (5.5 tons)
  6. Germany (4.5 tons)
  7. United Arab Emirates (4.1 tons)
  8. Singapore (3.6 tons)
  9. China (2.7 tons)

Castor Oil Seed Exports in Bangladesh

In 2022, approx. 16 tons of castor oil seed were exported from Bangladesh; declining by -29.2% compared with 2021 figures. Over the period under review, exports showed a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by 140% against the previous year. As a result, the exports reached the peak of 22 tons, and then declined markedly in the following year.

In value terms, castor oil seed exports fell remarkably to $14K in 2022. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 167% against the previous year.

Export of Castor Oil Seed in Bangladesh (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Saudi Arabia20.67.416.912.8-14.7%
FranceN/AN/AN/A0.80%
OmanN/AN/A3.0N/A0%
Others4.6N/AN/AN/A0%
Total25.37.419.913.7-18.5%

Top Export Markets for Castor Oil Seed from Bangladesh in 2022:

  1. Saudi Arabia (15.3 tons)
  2. France (0.3 tons)

Source: IndexBox Market Intelligence Platform

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