China: Oil Crops Market 2024

Oil Crops Market Size in China

The Chinese oil crops market stood at $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the market value increased by X% against the previous year. Oil crops consumption peaked in 2022 and is expected to retain growth in the immediate term.

Oil Crops Production in China

In value terms, oil crops production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The average yield of oil crops (primary) in China shrank modestly to X tons per ha in 2022, therefore, remained relatively stable against 2021 figures. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the yield increased by X%. As a result, the yield attained the peak level of X tons per ha, and then shrank in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the oil crops harvested area in China stood at X ha, with an increase of X% compared with 2021 figures. Overall, the harvested area showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to oil crops production attained the maximum at X ha in 2020; however, from 2021 to 2022, the harvested area failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Oil Crops Exports

Exports from China

In 2022, after two years of decline, there was significant growth in shipments abroad of oil crops (primary), when their volume increased by X% to X tons. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, oil crops exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons) was the main destination for oil crops exports from China, accounting for a X% share of total exports. Moreover, oil crops exports to South Korea exceeded the volume sent to the second major destination, Iran (X tons), twofold. The third position in this ranking was held by Iraq (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to South Korea amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (X% per year) and Iraq (X% per year).

In value terms, South Korea ($X) remains the key foreign market for oil crops (primary) exports from China, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports. It was followed by Iran, with a X% share.

From 2012 to 2022, the average annual growth rate of value to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Iran (X% per year).

Export Prices by Country

The average oil crops export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into China

Oil crops imports into China declined to X tons in 2022, waning by X% compared with the previous year's figure. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, oil crops imports expanded sharply to $X in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Brazil (X tons), the United States (X tons) and Argentina (X tons) were the main suppliers of oil crops imports to China, with a combined X% share of total imports. Canada, Bulgaria and Uruguay lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), the United States ($X) and Argentina ($X) constituted the largest oil crops suppliers to China, with a combined X% share of total imports. Canada, Uruguay and Bulgaria lagged somewhat behind, together accounting for a further X%.

Bulgaria, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average oil crops import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oil crops import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :