Report Update: Apr 1, 2024

U.S. - Castor Oil Seed - Market Analysis, Forecast, Size, Trends And Insights

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Castor Oil Seed Price in the United States - 2023

Castor Oil Seed Price in the United States (CIF) - 2023

The average castor oil seed import price stood at $2,090 per ton in July 2023, with an increase of 3.1% against the previous month. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 26% against the previous month. As a result, import price reached the peak level of $2,528 per ton. From February 2023 to July 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Canada ($7,513 per ton), while the price for India stood at $1,870 per ton.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by India (-0.7%).

Castor Oil Seed Price in the United States (FOB) - 2023

The average castor oil seed export price stood at $3,308 per ton in July 2023, growing by 13% against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2022 when the average export price increased by 31% month-to-month. As a result, the export price attained the peak level of $4,346 per ton. From November 2022 to July 2023, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In July 2023, the country with the highest price was Brazil ($14,033 per ton), while the average price for exports to Canada ($2,792 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Castor Oil Seed Imports in the United States

Castor oil seed imports into the United States dropped dramatically to 57K tons in 2022, waning by -30.5% on the year before. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 55%. As a result, imports attained the peak of 82K tons, and then declined rapidly in the following year.

In value terms, castor oil seed imports fell to $120M in 2022. Overall, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +6.3% 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 +59.9% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 80% against the previous year. As a result, imports attained the peak of $136M, and then declined in the following year.

Import of Castor Oil Seed in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	98.1	73.8	133	119	6.6%
Others	2.0	1.5	2.7	1.2	-15.7%
Total	100	75.3	136	120	6.3%

Top Suppliers of Castor Oil Seed to the United States in 2022:

India (56.9K tons)

Castor Oil Seed Exports in the United States

In 2022, overseas shipments of castor oil seed decreased by -23.9% to 3.8K tons, falling for the second year in a row after two years of growth. Overall, exports recorded a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 22%. As a result, the exports reached the peak of 5.9K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, castor oil seed exports contracted to $12M in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 23% against the previous year. As a result, the exports reached the peak of $15M. From 2021 to 2022, the growth of the exports failed to regain momentum.

Export of Castor Oil Seed in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Canada	8.2	10.2	8.5	6.9	-5.6%
Mexico	1.5	1.7	2.2	2.6	20.1%
China	0.3	0.4	0.6	0.4	10.1%
Others	2.1	2.5	2.2	1.9	-3.3%
Total	12.1	14.9	13.4	11.8	-0.8%

Top Export Markets for Castor Oil Seed from the United States in 2022:

Canada (2529.1 tons)
Mexico (825.0 tons)
China (75.4 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the castor oil seed market in the U.S.. 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 -

Country coverage:

United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the U.S.
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023