Middle East: Castor Oil Seed Market 2020

Castor Oil Seed Market Size in the Middle East

The revenue of the castor oil seed market in Middle East amounted to $X in 2017, growing by X% against the previous year. The total market indicated a moderate growth from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the castor oil seed consumption decreased by -X% against 2013 indices. The most prominent rate of growth was recorded in 2010, when market value increased by X% y-o-y. Over the period under review, the castor oil seed market reached its maximum level of $X in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

Castor Oil Seed Production in the Middle East

In 2017, average castor oil seed yield in Middle East amounted to X kg per X has, remaining stable against the previous year. The castor oil seed yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2011, with an increase of X% y-o-y. In that year, the castor oil seed yield reached their peak level of X kg per X has. From 2012 to 2017, growth of the castor oil seed yield failed to regain its momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The castor oil seed harvested area amounted to X ha in 2017, stabilizing at the previous year. The castor oil seed harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011, with an increase of X% y-o-y. The figure of castor oil seed harvested area peaked in 2017, and is expected to retain its growth in the immediate term.

Castor Oil Seed Exports

Exports in the Middle East

In 2017, approx. X tons of castor oil seed were exported in Middle East; rising by X% against the previous year. The castor oil seed exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016, with an increase of X% year-to-year. Over the period under review, the castor oil seed exports reached its maximum volume of X tons in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

In value terms, castor oil seed exports amounted to $X in 2017. The castor oil seed exports continue to indicate a temperate contraction. The level of exports peaked of $X in 2007; however, from 2008 to 2017, it failed to regain its momentum.

Exports by Country

In 2017, the United Arab Emirates (X tons) represented the major exporter for castor oil seed, mixed up X% of total exports. It was distantly followed by Turkey (X tons), constituting X% share of total exports.

The United Arab Emirates was also the fastest growing in terms of the castor oil seed exports, with a CAGR of +X% from 2007 to 2017. Turkey (-X%) illustrated a downward trend over the same period. Turkey (X%) significantly strengthened its position in terms of the global exports, while the United Arab Emirates saw its share reduced by -X% from 2007 to 2017, respectively.

In value terms, the United Arab Emirates ($X) remains the largest castor oil seed supplier in Middle East, making up X% of global exports. The second position in the ranking was occupied by Turkey ($X), with a X% share of global exports.

From 2007 to 2017, the average annual growth rate of value in the United Arab Emirates totaled -X%.

Export Prices by Country

In 2017, the castor oil seed export price in Middle East amounted to $X per ton, remaining constant against the previous year. The castor oil seed export price continues to indicate a moderate descent. The most prominent rate of growth was recorded in 2013, when it surged by X% against the previous year. In that year, the export prices for castor oil seed reached their peak level of $X per ton. From 2014 to 2017, growth of the export prices for castor oil seed stood at a somewhat lower level.

Average export prices varied somewhat amongst the major exporting countries. In 2017, the country with the highest export price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Turkey (+X% per year).

Castor Oil Seed Imports

Imports in the Middle East

The imports totaled X tons in 2017, going up by X% against the previous year. The total imports indicated a prominent expansion from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the castor oil seed imports increased by +X% against 2013 indices. The growth pace was the most rapid in 2010, when imports increased by X% year-to-year. The volume of imports peaked in 2017, and are likely to continue its growth in the immediate term.

In value terms, castor oil seed imports stood at $X in 2017. The total imports indicated a strong growth from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Over the period under review, the castor oil seed imports attained its peak figure level of $X in 2011; however, from 2012 to 2017, it failed to regain its momentum.

Imports by Country

In 2017, Turkey (X tons) was the main importer for castor oil seed, making up X% of total imports. The United Arab Emirates (X tons) ranks second in terms of the global imports with a X% share, followed by Iran (X%), Saudi Arabia (X%) and Israel (X%). Kuwait (X tons) held the minor share of total imports.

From 2007 to 2017, average annual rates of growth with regard to castor oil seed imports into Turkey stood at +X%. At the same time, Saudi Arabia (+X%), Israel (+X%) and Iran (+X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest growing importer in Middle East, with a CAGR of +X% from 2007-2017. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Kuwait (-X%) illustrated a downward trend over the same period. From 2007 to 2017, the share of Israel, Iran, Saudi Arabia and Turkey decreased by -X%, -X%, -X% and -X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported castor oil seed in Middle East, making up X% of global imports. The second position in the ranking was occupied by the United Arab Emirates ($X), with a X% share of global imports. It was followed by Iran, with a X% share.

From 2007 to 2017, the average annual growth rate of value in Turkey totaled +X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+X% per year) and Iran (+X% per year).

Import Prices by Country

The castor oil seed import price in Middle East stood at $X per ton in 2017, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2011, when the import prices increased by X% year-to-year. In that year, the import prices for castor oil seed reached their peak level of $X per ton. From 2012 to 2017, growth of the import prices for castor oil seed stood at a somewhat lower level.

Average import prices varied somewhat amongst the major importing countries. In 2017, major importing countries recorded the following import prices: in Saudi Arabia ($X per ton) and Kuwait ($X per ton), while the United Arab Emirates ($X per ton) and Iran ($X per ton) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Iran (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform