Middle East: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in the Middle East

In 2023, the Middle Eastern refined cotton-seed oil market increased by X% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Refined Cotton-Seed Oil Production in the Middle East

In value terms, refined cotton-seed oil production rose sharply to $X in 2023 estimated in export price. In general, production, however, continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Refined Cotton-Seed Oil Exports

Exports in the Middle East

In 2023, approx. X tons of refined cotton-seed oil were exported in the Middle East; picking up by X% compared with the year before. Overall, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, refined cotton-seed oil exports dropped to $X in 2023. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was approx. X% of total exports in 2023. Yemen (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the refined cotton-seed oil exports, with a CAGR of X% from 2012 to 2023. Yemen (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Yemen (X p.p.) displayed negative dynamics.

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

From 2012 to 2023, the average annual growth rate of value in Turkey amounted to 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. Overall, the export price saw a slight contraction. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then fell notably in the following year.

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 Turkey ($X per ton), while Yemen totaled $X per ton.

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

Refined Cotton-Seed Oil Imports

Imports in the Middle East

In 2023, imports of refined cotton-seed oil in the Middle East declined to X tons, reducing by X% against the previous year. Overall, imports continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, refined cotton-seed oil imports declined dramatically to $X in 2023. Over the period under review, imports recorded a noticeable decline. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

Turkey (X tons), Israel (X tons) and Syrian Arab Republic (X tons) represented roughly X% of total imports in 2023. Kuwait (X tons) ranks next in terms of the total imports with a X% share, followed by the United Arab Emirates (X%). Jordan (X tons) and Oman (X tons) took 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 Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined cotton-seed oil importing markets in the Middle East were Turkey ($X), Israel ($X) and Syrian Arab Republic ($X), with a combined X% share of total imports.

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

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, dropping by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. 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.

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 Israel ($X per ton), while Jordan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform