Cottonseed oil and fractions market in GCC

Earlier Report Observations

The cottonseed oil market in the GCC region showed significant growth from 2018 to 2023, with its volume expanding from 16.9 thousand tons to 23.6 thousand tons. This overall increase was marked by a period of contraction in 2020, which temporarily reversed the upward trend before a sustained recovery took hold.

Market growth was particularly strong in 2019, with volume jumping by 18% to nearly 20 thousand tons. After a 13% decline in 2020, the market stabilized and grew by 5% in 2021, followed by more robust increases of 12% in 2022 and 16% in 2023, reaching its highest point in the period.

Production cottonseed oil and fractions in GCC

In kind, 2017-2020, t

Top producers of cottonseed oil and fractions, 2017-2020

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

In 2020, GCC produced 16 575 tonnes of cottonseed oil and fractions, representing a 15.4% decrease compared to the previous year. Over the period from 2017 to 2020, production declined by 8.3%, with a compound annual growth rate of 2.8%. The highest production level was recorded in 2019 at 19 597 tonnes, which also saw the largest annual increase of 17.2%.

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

Exports cottonseed oil and fractions from GCC

Exports in kind, t

The market displayed an unstable trend throughout the observed period. Import levels fluctuated significantly, with an 8.2-fold difference between the peak in 2017 and the low in 2019. In 2020, GCC exports of cottonseed oil and fractions amounted to 21.1 tonnes, marking a sharp increase of 148.3% from the previous year. The lowest export volume was recorded in 2019 at 8.5 tonnes, which also experienced the largest decline of 79.9%.

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

From 2017 to 2020, the country breakdown of exports in kind was scattered, with no single partner dominating the market. Ukraine accounted for 11.8% of exports in kind, Iran for 9.1%, and Yemen for 3.7%, together representing just 24.6% of total export flows.

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

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

Exports in value, K $ US

The market showed signs of volatility during the observed period. Import levels fluctuated by 11.3 times between the high in 2018 and the low in 2019. In 2020, GCC's export value of cottonseed oil and fractions reached 41.6 thousand US dollars, corresponding to a dramatic gain of 247.7% year-over-year. The minimum value was recorded in 2019 at 12.0 thousand US dollars, while the maximum was in 2018 at 135.4 thousand US dollars. The largest decline occurred in 2019, with a drop of 91.2%.

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

Between 2017 and 2020, the country structure of exports in value terms remained highly diversified. Ukraine contributed 11.4% of exports in value terms, Canada 7.4%, and Iran 5.0%, together accounting for only 23.8% of total flows. The remaining 76.2% was formed by a long tail of smaller markets.

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

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

Imports cottonseed oil and fractions to GCC

Imports in kind, t

Volatility characterized the market behavior during these years. The span from 2018 to 2020 saw a peak-to-trough amplitude of 3.1 times. In 2020, GCC's import volume of cottonseed oil and fractions reached 741.1 tonnes, which is 99.0% higher than the previous year. The minimum value was recorded in 2018 at 237.8 tonnes, which also experienced the largest decline of 36.5%.

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

Throughout 2017 to 2020, Ukraine, Turkey, and the United States formed the core of imports in kind. Ukraine accounted for 29.4% of imports in kind, Turkey for 19.8%, and the United States for 12.5%, together taking 61.7% of total import flows.

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

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

Imports in value, K $ US

The market exhibited an unstable trend throughout the timeframe. The highest import value was recorded in 2020, with the lowest in 2018, reflecting a 1.8-fold gap. In 2020, GCC imported a total of 670.9 thousand US dollars of cottonseed oil and fractions, up by 71.2% from 2019. The minimum value was recorded in 2018 at 370.2 thousand US dollars, which also saw the largest decline of 25.7%.

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

Throughout 2017 to 2020, Ukraine, the United States, and Turkey remained the key directions for imports in value terms. Ukraine accounted for 21.7% of imports in value terms, the United States for 15.2%, and Turkey for 14.2%, together taking 51.2% of total import flows.

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

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