Castor Oil Seed Price in New Zealand - 2023
Contents:
- Castor Oil Seed Price in New Zealand (CIF) - 2022
- Castor Oil Seed Price in New Zealand (FOB) - 2022
- Castor Oil Seed Imports in New Zealand
- Castor Oil Seed Exports in New Zealand
Castor Oil Seed Price in New Zealand (CIF) - 2022
The average castor oil seed import price stood at $3,750 per ton in 2022, with an increase of 27% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, castor oil seed import price increased by +73.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 37% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($3,295 per ton), while the price for Australia amounted to $2,371 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.2%), while the prices for the other major suppliers experienced a decline.
Castor Oil Seed Price in New Zealand (FOB) - 2022
The average castor oil seed export price stood at $5,350 per ton in 2022, increasing by 15% against the previous year. Overall, the export price recorded a temperate expansion. The pace of growth was the most pronounced in 2015 an increase of 123% against the previous year. The export price peaked at $13,174 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
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 Vanuatu ($15,000 per ton), while the average price for exports to Samoa ($5,073 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 Australia (+45.8%), while the prices for the other major destinations experienced mixed trend patterns.
Castor Oil Seed Imports in New Zealand
In 2022, approx. 44 tons of castor oil seed were imported into New Zealand; picking up by 18% compared with the previous year's figure. The total import volume increased at an average annual rate of +6.4% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, castor oil seed imports surged to $165K in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +17.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Castor Oil Seed in New Zealand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 98.0 | 86.8 | 81.5 | 139 | 12.4% |
| Australia | N/A | 0.2 | 14.0 | 2.1 | 224.0% |
| Others | 5.0 | 6.1 | 14.1 | 23.9 | 68.5% |
| Total | 103 | 93.1 | 110 | 165 | 17.0% |
Top Suppliers of Castor Oil Seed to New Zealand in 2022:
- India (42.2 tons)
- Australia (0.9 tons)
Castor Oil Seed Exports in New Zealand
In 2022, overseas shipments of castor oil seed decreased by -57.1% to 100 kg, falling for the second consecutive year after two years of growth. In general, exports showed a precipitous setback. The pace of growth appeared the most rapid in 2020 with an increase of 568% against the previous year. As a result, the exports reached the peak of 4.6 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, castor oil seed exports reduced sharply to $535 in 2022. Over the period under review, exports saw a dramatic curtailment. The pace of growth was the most pronounced in 2020 when exports increased by 26%. As a result, the exports attained the peak of $11K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Castor Oil Seed in New Zealand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Samoa | 0.2 | 0.4 | 0.3 | 0.5 | 35.7% |
| Cook Islands | 3.0 | 11.0 | 0.1 | N/A | -81.7% |
| Vanuatu | N/A | N/A | N/A | N/A | 0% |
| French Polynesia | N/A | N/A | 0.6 | N/A | 0% |
| New Caledonia | N/A | N/A | N/A | N/A | 0% |
| Australia | 5.7 | N/A | N/A | N/A | 0% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 9.0 | 11.4 | 1.1 | 0.5 | -61.8% |
Top Export Markets for Castor Oil Seed from New Zealand in 2022:
- Samoa (96.0 kg)
- New Caledonia (2.0 kg)
- Vanuatu (2.0 kg)
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