Pakistan: Chemically Modified Oils Market 2023

Chemically Modified Oils Market Size in Pakistan

The Pakistani chemically modified oils market dropped slightly to $X in 2021, which is down by -2.2% against the previous year. In general, consumption, however, continues to indicate a resilient increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Chemically Modified Oils Production in Pakistan

In value terms, chemically modified oils production dropped modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.3% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 35% against the previous year. Chemically modified oils production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Chemically Modified Oils Exports

Exports from Pakistan

For the fourth consecutive year, Pakistan recorded decline in overseas shipments of animal or vegetable fats and oils chemically modified, which decreased by -23.8% to X tons in 2021. Over the period under review, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 35%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, chemically modified oils exports declined notably to $X in 2021. Overall, exports showed a deep reduction. The growth pace was the most rapid in 2017 with an increase of 23%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Afghanistan (X tons) was the main destination for chemically modified oils exports from Pakistan, with a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Afghanistan amounted to -9.9%.

In value terms, Afghanistan ($X) also remains the key foreign market for chemically modified oils exports from Pakistan.

From 2012 to 2021, the average annual rate of growth in terms of value to Afghanistan stood at -8.2%.

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2021, remaining constant against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2015 an increase of 13%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Afghanistan.

From 2012 to 2021, the rate of growth in terms of prices for Afghanistan amounted to +1.8% per year.

Chemically Modified Oils Imports

Imports into Pakistan

In 2021, approx. X tons of animal or vegetable fats and oils chemically modified were imported into Pakistan; increasing by 1.7% against the year before. In general, imports showed a measured expansion. The pace of growth was the most pronounced in 2015 when imports increased by 213% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, chemically modified oils imports soared to $X in 2021. Overall, imports enjoyed a temperate increase. The most prominent rate of growth was recorded in 2015 when imports increased by 155% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Kuwait (X tons) constituted the largest supplier of chemically modified oils to Pakistan, accounting for a 59% share of total imports. Moreover, chemically modified oils imports from Kuwait exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fourfold. The third position in this ranking was held by Oman (X tons), with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Kuwait totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+15.5% per year) and Oman (-9.3% per year).

In value terms, the largest chemically modified oils suppliers to Pakistan were Kuwait ($X), Taiwan (Chinese) ($X) and China ($X), together comprising 79% of total imports. These countries were followed by Singapore, Malaysia, Saudi Arabia and Oman, which together accounted for a further 10%.

Among the main suppliers, Singapore, with a CAGR of +43.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average chemically modified oils import price amounted to $X per ton, rising by 34% against the previous year. Over the period under review, the import price, however, saw a mild setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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