Castor oil and fractions market in MENA

Earlier Report Observations

The market volume for castor oil and fractions in the MENA region showed considerable volatility between 2018 and 2023. Starting at 6,688 t in 2018, it rose steadily to nearly 10,000 t in 2020, before contracting in 2021. A sharp rebound followed in 2022, pushing the market to its peak of 10,980 t, but this was followed by a significant decline to 8,471 t in 2023.

Domestic production remained relatively stable throughout the period, ranging from 638 t to 790 t annually. Consequently, the market fluctuations were primarily driven by changes in import volumes, which peaked in 2022 at 10,998 t before dropping to 7,980 t in 2023. Simultaneously, exports fell consistently from 1,208 t in 2018 to just 162 t in 2023, partially offsetting the import volatility and supporting the domestic market volume.

Overall, the market expanded from its 2018 level, but the path was marked by two distinct growth phases interrupted by a downturn in 2021 and another in 2023.

Production castor oil and fractions in MENA

In kind, 2017-2020, t

Top producers of castor oil and fractions, 2017-2020

World map of production of castor oil and fractions, 2017-2020

In 2019, MENA's production of castor oil and fractions reached its lowest point at 638.3 tonnes. The following year, in 2020, output rose slightly to 647.4 tonnes, marking a modest 1.4% increase compared to 2019. Looking back over the 2017-2020 period, production declined by 14.4%, with a compound annual growth rate of -5.1%. The peak was recorded in 2018 at 789.6 tonnes, which saw the largest annual increase of 4.4%. The most significant drop occurred in 2019, when production fell by 19.2%.

Annual dynamics of production in MENA in kind, 2017-2020, t

In value, 2017-2020, K $ US

MENA's production of castor oil and fractions, measured in value terms, declined for the second consecutive year. In 2020, output was valued at 1 454 thousand US dollars, representing a modest 6.7% decrease compared to the previous year. Over the 2017-2020 period, production fell by 21.3%, with a compound annual growth rate of -7.7%. The highest value was recorded in 2018 at 2 310 thousand US dollars, which saw the largest annual increase of 25.1%. The most significant decline occurred in 2019, when production dropped by 32.5%.

Annual dynamics of production in MENA in value, 2017-2020, K $ US

Exports castor oil and fractions from MENA

Exports in kind, t

Exports of castor oil and fractions from MENA showed noticeable fluctuations during the period. In 2017, exports reached their lowest point, while they peaked in 2018 at 1 208 tonnes, representing a 2.7-fold difference between these years. In 2020, exports amounted to 1 108 tonnes, up 5.6% compared to 2019. The largest decline was recorded in 2019, when exports fell by 13.1%, while the most significant increase occurred in 2018, with a substantial rise of 175.0%.

Annual dynamics of product's exports from MENA in kind, 2017-2020, t

From 2017 to 2020, India, Pakistan, and Nigeria emerged as the main markets for MENA's exports of castor oil and fractions in volume terms. India accounted for 45.9% of exports, Pakistan for 16.2%, and Nigeria for 5.7%. Together, these three countries represented 67.7% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from MENA in kind, 2017-2020

Exports in value, K $ US

The market for castor oil and fractions exports from MENA showed signs of volatility over the observed period. In 2017, exports in value terms were at their lowest, while they reached their highest point in 2018 at 3 532 thousand US dollars, a 3.8-fold difference between these years. In 2020, exports totalled 2 238 thousand US dollars, down 12.1% year-on-year. The largest decline occurred in 2019, with a drop of 27.9%, while the most significant increase was recorded in 2018, with a substantial rise of 278.0%.

Annual dynamics of product's exports from MENA in value, 2017-2020, K $ US

From 2017 to 2020, India, Pakistan, and Nigeria led the ranking of buyers of castor oil and fractions from MENA in value terms. India held a 43.8% share of exports, Pakistan accounted for 16.7%, and Nigeria for 6.9%. Combined, these three countries represented 67.4% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from MENA in value, 2017-2020

Imports castor oil and fractions to MENA

Imports in kind, t

Imports of castor oil and fractions into MENA increased for the third consecutive year. In 2020, imports amounted to 10 409 tonnes, up 29.1% compared to 2019. Over the 2017-2020 period, imports grew by 61.7%, with a compound annual growth rate of 17.4%.

Annual dynamics of product's imports to MENA in kind, 2017-2020, t

From 2017 to 2020, India played a leading role in imports of castor oil and fractions into MENA in volume terms, accounting for 85.0% of total flows. The remainder was distributed across other trading partners.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to MENA in kind, 2017-2020

Imports in value, K $ US

MENA's imports of castor oil and fractions, measured in value terms, increased for the third consecutive year. In 2020, imports totalled 17 324 thousand US dollars, representing a robust rise of 12.5% compared to 2019. Over the 2017-2020 period, imports grew by 56.4%, with a compound annual growth rate of 16.1%.

Annual dynamics of product's imports to MENA in value, 2017-2020, K $ US

Throughout 2017 to 2020, India clearly dominated imports of castor oil and fractions into MENA in value terms, taking an 80.0% share of total flows. Other countries each held significantly smaller shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to MENA in value, 2017-2020