GCC: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in GCC

The GCC refined cotton-seed oil market dropped slightly to $X in 2023, falling by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Refined Cotton-Seed Oil Production in GCC

In value terms, refined cotton-seed oil production declined slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Refined Cotton-Seed Oil Exports

Exports in GCC

In 2023, approx. X tons of refined cotton-seed oil were exported in GCC; growing by X% against 2022 figures. Over the period under review, exports, however, faced a abrupt setback. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, refined cotton-seed oil exports fell slightly to $X in 2023. Overall, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the largest exporter of refined cotton-seed oil in GCC, with the volume of exports finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by Oman (X tons), comprising a X% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. By contrast, Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Oman increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest refined cotton-seed oil supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price recorded a slight contraction. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

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

Refined Cotton-Seed Oil Imports

Imports in GCC

Refined cotton-seed oil imports stood at X tons in 2023, with an increase of X% on 2022 figures. Over the period under review, imports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports failed to regain momentum.

In value terms, refined cotton-seed oil imports shrank remarkably to $X in 2023. Overall, imports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Kuwait represented the main importer of refined cotton-seed oil in GCC, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Oman (X tons) and Bahrain (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Kuwait ($X), the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports.

In terms of the main importing countries, the United Arab Emirates, 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 mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price recorded a mild setback. The most prominent rate of growth was recorded in 2021 an increase of 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.

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

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

Source: IndexBox Platform