Asia: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in Asia

The Asian cotton-seed oil market fell slightly to $X in 2023, approximately mirroring the previous year. Over the period under review, consumption posted a tangible expansion. As a result, consumption reached the peak level of $X. From 2015 to 2023, the growth of the market failed to regain momentum.

Cotton-Seed Oil Production in Asia

In value terms, cotton-seed oil production contracted slightly to $X in 2023 estimated in export price. Overall, production continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Cotton-Seed Oil Exports

Exports in Asia

In 2023, shipments abroad of crude cotton-seed oil was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Overall, exports showed a prominent increase. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, cotton-seed oil exports stood at $X in 2023. In general, exports showed a perceptible increase. The pace of growth appeared the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, Turkmenistan (X tons) represented the largest exporter of crude cotton-seed oil, generating X% of total exports. Kazakhstan (X tons) took the second position in the ranking, followed by Azerbaijan (X tons) and Uzbekistan (X tons). All these countries together took near X% share of total exports.

Exports from Turkmenistan increased at an average annual rate of X% from 2012 to 2023. At the same time, Azerbaijan (X%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Kazakhstan (X%) and Uzbekistan (X%) illustrated a downward trend over the same period. Turkmenistan (X p.p.), Azerbaijan (X p.p.) and Uzbekistan (X p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Turkmenistan ($X) remains the largest cotton-seed oil supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total exports. It was followed by Uzbekistan, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Turkmenistan totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Kazakhstan (X% per year) and Uzbekistan (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, standing approx. at the previous year. In general, the export price, however, continues to indicate a pronounced decline. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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 Kazakhstan ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

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

Cotton-Seed Oil Imports

Imports in Asia

In 2023, after three years of decline, there was significant growth in purchases abroad of crude cotton-seed oil, when their volume increased by X% to X tons. In general, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, cotton-seed oil imports dropped to $X in 2023. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Uzbekistan (X tons), distantly followed by Tajikistan (X tons), Kyrgyzstan (X tons), Turkey (X tons) and Malaysia (X tons) were the largest importers of crude cotton-seed oil, together constituting X% of total imports. India (X tons) and Japan (X tons) held a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Tajikistan ($X), Uzbekistan ($X) and Kyrgyzstan ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. India, Malaysia, Turkey and Japan lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform