Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States - 2023
Contents:
- Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States (FOB) - 2023
- Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States (CIF) - 2023
- Exports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States
- Imports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States
Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States (FOB) - 2023
The average export price for oil seeds; cotton seeds, other than seed, whether or not broken stood at $386 per ton in September 2023, picking up by 22% against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 an increase of 61% against the previous month. As a result, the export price attained the peak level of $644 per ton. From February 2023 to September 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In September 2023, the country with the highest price was China ($509 per ton), while the average price for exports to South Korea ($332 per ton) was amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.2%), while the prices for the other major destinations experienced a decline.
Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States (CIF) - 2023
In August 2023, the average import price for oil seeds; cotton seeds, other than seed, whether or not broken amounted to $401 per ton, approximately mirroring the previous month. In general, the import price continues to indicate a perceptible decline. Over the period under review, average import prices hit record highs at $1,291 per ton in June 2023; however, from July 2023 to August 2023, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Australia.
From December 2022 to August 2023, the rate of growth in terms of prices for Australia amounted to -0.6% per month.
Exports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States
In 2022, shipments abroad of oil seeds; cotton seeds, other than seed, whether or not broken decreased by -11.4% to 210K tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 0.6%. As a result, the exports attained the peak of 302K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of oil seeds; cotton seeds, other than seed, whether or not broken dropped slightly to $81M in 2022. The total export value increased at an average annual rate of +1.8% from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 5.7%. As a result, the exports reached the peak of $84M, and then reduced in the following year.
| Export of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 28.1 | 32.3 | 29.7 | 29.1 | 1.2% |
| Saudi Arabia | 18.6 | 14.2 | 22.5 | 22.6 | 6.7% |
| Japan | 15.3 | 17.6 | 12.4 | 14.2 | -2.5% |
| China | 0.2 | 2.5 | 4.6 | 4.7 | 186.4% |
| Mexico | 8.9 | 10.5 | 9.3 | 4.0 | -23.4% |
| Morocco | 1.5 | 1.1 | 2.6 | 2.9 | 24.6% |
| United Arab Emirates | 0.7 | 0.1 | 1.2 | 2.1 | 44.2% |
| Others | 3.5 | 1.0 | 1.5 | 1.5 | -24.6% |
| Total | 76.8 | 79.3 | 83.8 | 81.1 | 1.8% |
Top Export Markets for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken from the United States in 2022:
- South Korea (77.1K tons)
- Saudi Arabia (58.1K tons)
- Japan (32.5K tons)
- China (14.6K tons)
- Mexico (11.9K tons)
- Morocco (6.9K tons)
- United Arab Emirates (5.6K tons)
Imports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States
For the fourth year in a row, the United States recorded growth in overseas purchases of oil seeds; cotton seeds, other than seed, whether or not broken, which increased by 119% to 49K tons in 2022. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 1,275%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in years to come.
In value terms, imports of oil seeds; cotton seeds, other than seed, whether or not broken skyrocketed to $19M in 2022. In general, imports showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 2,742% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | N/A | N/A | 8.2 | 18.8 | 129.3% |
| Mexico | 0.1 | 0.2 | N/A | N/A | 100.0% |
| Others | N/A | 0.1 | N/A | N/A | 0% |
| Total | 0.1 | 0.3 | 8.2 | 18.8 | 472.9% |
Top Suppliers of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken to the United States in 2022:
- Australia (49.2K tons)
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