Vietnam - Castor Oil Seed - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCastor Oil Seed Price in Vietnam - 2022
Contents:
- Castor Oil Seed Price in Vietnam (CIF) - 2022
- Castor Oil Seed Price in Vietnam (FOB) - 2022
- Castor Oil Seed Imports in Vietnam
- Castor Oil Seed Exports in Vietnam
Castor Oil Seed Price in Vietnam (CIF) - 2022
The average castor oil seed import price stood at $1,687 per ton in 2022, which is down by -6% against the previous year. Over the period under review, the import price recorded a slight decline. The most prominent rate of growth was recorded in 2017 an increase of 25%. Over the period under review, average import prices hit record highs at $1,921 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($2,385 per ton), while the price for Taiwan (Chinese) ($1,237 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Castor Oil Seed Price in Vietnam (FOB) - 2022
The average castor oil seed export price stood at $1,592 per ton in 2022, picking up by 9% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average export price increased by 54%. Over the period under review, the average export prices attained the peak figure at $2,298 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Lao People's Democratic Republic.
From 2012 to 2022, the rate of growth in terms of prices for Lao People's Democratic Republic amounted to +1.8% per year.
Castor Oil Seed Imports in Vietnam
In 2022, the amount of castor oil seed imported into Vietnam contracted rapidly to 1.3K tons, waning by -17.1% on the previous year. In general, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +7.8% 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 +26.1% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 52%. As a result, imports attained the peak of 1.6K tons, and then reduced markedly in the following year.
In value terms, castor oil seed imports declined rapidly to $2.2M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +5.4% 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 +39.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 79%. As a result, imports reached the peak of $2.8M, and then contracted markedly in the following year.
| Import of Castor Oil Seed in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1,450 | 1,046 | 1,710 | 1,223 | -5.5% |
| China | 14.3 | 29.4 | 530 | 446 | 214.8% |
| Thailand | 116 | 178 | 164 | 134 | 4.9% |
| South Korea | 116 | 88.8 | 129 | 121 | 1.4% |
| Singapore | 50.0 | 102 | 132 | 97.6 | 25.0% |
| Japan | 11.3 | 36.7 | 59.8 | 49.7 | 63.8% |
| Taiwan (Chinese) | 37.5 | 41.3 | 41.8 | 34.2 | -3.0% |
| Others | 77.4 | 45.8 | 46.2 | 84.1 | 2.8% |
| Total | 1,872 | 1,568 | 2,812 | 2,190 | 5.4% |
Top Suppliers of Castor Oil Seed to Vietnam in 2022:
- India (720.7 tons)
- China (287.4 tons)
- Thailand (91.8 tons)
- South Korea (51.4 tons)
- Singapore (44.0 tons)
- Taiwan (Chinese) (27.6 tons)
- Japan (20.8 tons)
Castor Oil Seed Exports in Vietnam
Castor oil seed exports from Vietnam rose markedly to 6.9 tons in 2022, picking up by 14% compared with the previous year. The total export volume increased at an average annual rate of +6.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 42% against the previous year. As a result, the exports reached the peak of 8.2 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, castor oil seed exports surged to $11K in 2022. The total export value increased at an average annual rate of +1.8% over the period 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 2020 when exports increased by 26% against the previous year. As a result, the exports attained the peak of $13K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Castor Oil Seed in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lao People's Democratic Republic | 10.4 | 5.3 | 6.4 | 11.0 | 1.9% |
| Thailand | N/A | 7.1 | N/A | N/A | 0% |
| Malaysia | N/A | 0.7 | 0.5 | N/A | -28.6% |
| Canada | N/A | N/A | 2.0 | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 10.4 | 13.1 | 8.9 | 11.0 | 1.9% |
Top Export Markets for Castor Oil Seed from Vietnam in 2022:
- Lao People's Democratic Republic (6.9 tons)
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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
-
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
-
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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