Cottonseed oil and fractions market in Western Asia

Earlier Report Observations

The market for cottonseed oil in Western Asia experienced a significant contraction from 231 thousand tons in 2018 to 175 thousand tons in 2021. This decline was primarily driven by a substantial drop in domestic production, which fell from 238 thousand tons to 189 thousand tons over the same period, while export volumes remained high, exceeding 14 thousand tons annually through 2021.

A sharp recovery occurred in 2022 and 2023, with the market volume rebounding to 223 thousand tons. This turnaround was supported by a resurgence in production to 231 thousand tons and a notable reduction in exports to around 8-9 thousand tons, making more oil available for domestic consumption.

Entering 2024, the market is shaped by broader regional trends, including the Asia-Pacific region's dominance in cottonseed oil due to large-scale production and rising edible oil demand. Consumer preferences in Western Asia are shifting toward natural and organic oils, driven by health and sustainability concerns, while competition from other vegetable oils like palm, sunflower, and soybean influences pricing and market dynamics.

Production cottonseed oil and fractions in Western Asia

In kind, 2017-2020, K t

Top producers of cottonseed oil and fractions, 2017-2020

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

Western Asia's production of cottonseed oil and fractions declined for the second year in a row. In 2020, the region produced 201.3 thousand tonnes, marking a significant 14.2% drop from the previous year. Over the 2017-2020 period, production fell by 7.4%, with an average annual decline of 2.5%. The highest production volume was recorded in 2018 at 237.5 thousand tonnes, which also saw the largest increase of 9.3%.

Annual dynamics of production in Western Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the output value of cottonseed oil and fractions in Western Asia was 176.9 million US dollars, showing a slight year-on-year decrease of 1.0%. The lowest value occurred in 2018 at 156.0 million US dollars, with the largest decline that year of 12.0%. The highest value was recorded in 2019 at 178.7 million US dollars, which also experienced the largest increase of 14.6%.

Annual dynamics of production in Western Asia in value, 2017-2020, M $ US

Exports cottonseed oil and fractions from Western Asia

Exports in kind, t

Cottonseed oil and fractions exports from Western Asia increased for the third consecutive year. In 2020, exports reached 14 558 tonnes, reflecting a 4.8% rise compared to the previous year. Over the 2017-2020 period, exports grew by 306.7%, with an average annual growth rate of 59.6%.

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

From 2017 to 2020, Tajikistan (38.9% of exports in kind), Australia (22.8%), and Malaysia (17.9%) formed the core of exports, together accounting for 79.6% of total flows.

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

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

Exports in value, K $ US

Western Asia's cottonseed oil and fractions export value increased for the third year in a row. In 2020, exports amounted to 12 794 thousand US dollars, representing a 20.9% increase from the previous year. Over the 2017-2020 period, export value rose by 338.1%, with an average annual growth rate of 63.6%.

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

Throughout 2017-2020, Tajikistan (29.5% of exports in value terms), Australia (27.5%), and Malaysia (19.6%) remained the key destinations, together taking 76.5% of total flows.

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

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

Imports cottonseed oil and fractions to Western Asia

Imports in kind, t

The market showed signs of volatility during the observed period. Imports reached their lowest point in 2018 at 393 tonnes, with the largest decline that year of 13.4%. They then peaked in 2020 at 1 906 tonnes, representing a 227.2% increase from the previous year and a 4.9-fold difference from the 2018 low.

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

From 2017 to 2020, the partner structure for imports in kind was balanced rather than concentrated. Ukraine (10.7% of imports in kind), the United States (5.7%), and Iran (4.1%) jointly represented 20.4% of total flows, with many other countries accounting for the remaining 79.6%.

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

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

Imports in value, K $ US

There were noticeable fluctuations in market performance during the period. The lowest import value was recorded in 2019 at 854 thousand US dollars, with the largest decline occurring in 2018 at 19.7%. The highest value was recorded in 2020 at 2 459 thousand US dollars, which is 187.8% higher than the prior year and 2.9 times the 2019 low.

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

In 2017-2020, the partner structure for imports in value terms was balanced rather than concentrated. Ukraine (9.7% of imports in value terms), the United States (9.3%), and Iran (7.1%) jointly represented 26.2% of total flows, with many other countries accounting for the remaining 73.8%.

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

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