Middle East: Cotton-Seed Oil Market 2024

Cotton-Seed Oil Market Size in the Middle East

In 2023, after three years of decline, there was significant growth in the Middle Eastern cotton-seed oil market, when its value increased by X% to $X. Over the period under review, consumption showed a resilient expansion. As a result, consumption reached the peak level of $X. From 2015 to 2023, the growth of the market remained at a lower figure.

Cotton-Seed Oil Production in the Middle East

In value terms, cotton-seed oil production reduced slightly to $X in 2023 estimated in export price. In general, production saw a dramatic decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Cotton-Seed Oil Exports

Exports in the Middle East

Cotton-seed oil exports shrank sharply to X tons in 2023, falling by X% against the year before. Over the period under review, exports faced a dramatic decline. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, cotton-seed oil exports contracted significantly to $X in 2023. Overall, exports saw a precipitous contraction. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Turkey was the largest exporter of crude cotton-seed oil in the Middle East, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X kg), achieving a X% share of total exports.

Turkey was also the fastest-growing in terms of the crude cotton-seed oil exports, with a CAGR of X% from 2012 to 2023. The United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the export price, however, showed moderate growth. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then dropped dramatically in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Cotton-Seed Oil Imports

Imports in the Middle East

After two years of decline, supplies from abroad of crude cotton-seed oil increased by X% to X tons in 2023. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2019 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, cotton-seed oil imports surged to $X in 2023. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Turkey dominates imports structure, resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total imports. The following importers - the United Arab Emirates (X tons) and Kuwait (X tons) - each resulted at a X% share of total imports.

Turkey was also the fastest-growing in terms of the crude cotton-seed oil imports, with a CAGR of X% from 2012 to 2023. At the same time, Kuwait (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey, Saudi Arabia and the United Arab Emirates increased by X, X and X percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported crude cotton-seed oil in the Middle East, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price faced a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

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

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

Source: IndexBox Platform