Africa: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in Africa

In 2023, the African refined cotton-seed oil market increased by X% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Refined Cotton-Seed Oil Production in Africa

In value terms, refined cotton-seed oil production dropped slightly to $X in 2023 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2023, production growth remained at a lower figure.

Refined Cotton-Seed Oil Exports

Exports in Africa

Refined cotton-seed oil exports declined markedly to X tons in 2023, with a decrease of X% against 2022. In general, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, refined cotton-seed oil exports contracted dramatically to $X in 2023. Overall, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, South Africa (X tons), Benin (X tons) and Burkina Faso (X tons) was the major exporter of refined cotton-seed oil in Africa, mixing up X% of total export. Zimbabwe (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Burkina Faso (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, South Africa ($X), Benin ($X) and Burkina Faso ($X) were the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Among the main exporting countries, Burkina Faso, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Africa stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced a decline in the export price figures.

Refined Cotton-Seed Oil Imports

Imports in Africa

In 2023, imports of refined cotton-seed oil in Africa reduced remarkably to X tons, shrinking by X% compared with 2022 figures. Over the period under review, imports recorded a abrupt decrease. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, refined cotton-seed oil imports contracted remarkably to $X in 2023. In general, imports showed a noticeable contraction. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

Ethiopia (X tons) and Nigeria (X tons) represented roughly X% of total imports in 2023. Democratic Republic of the Congo (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Lesotho (X%). Mali (X tons) and Botswana (X tons) took a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Democratic Republic of the Congo (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Ethiopia ($X) constitutes the largest market for imported refined cotton-seed oil in Africa, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total imports. It was followed by Democratic Republic of the Congo, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Ethiopia amounted to X%. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Democratic Republic of the Congo (X% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2023, surging by X% against the previous year. Import price indicated moderate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, refined cotton-seed oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ethiopia ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ethiopia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform