Refined cottonseed oil and fractions market in Greece

Earlier Report Observations

From 2018 to 2020, production of refined cottonseed oil in Greece increased from 4 824 t to 5 462 t, while the market volume expanded from 4 537 t to 5 221 t. This growth period began with Law 4523/2018 on medical cannabis, which introduced changes to agricultural product regulations. The rise was further supported in 2020 by the certification of non‑GM Greek cotton under BCI and EU cotton standards, a move led by the Interprofessional Cotton Organization (Δ.Ο.Β) to upgrade cotton cultivation and enhance the value of cotton‑based products.

After 2020, import volumes showed sharp swings, reaching 3 133 t in 2022 and 3 946 t in 2024, while exports peaked at 1 424 t in 2023 before falling to 318 t in 2024. Market shifts were influenced by the expansion of organic cotton, which accounted for 11% of cotton use by 2023 and increased demand for non‑GM cotton. In 2024, new legislative acts and subsidy guidelines for cotton farming were enacted, and parallel developments in the olive oil market—such as international price pressures and rising imports from China—affected the broader vegetable oils sector.

Production refined cottonseed oil and fractions in Greece

In value, 2017-2020, K $ US

Greece's refined cottonseed oil and fractions production has increased for the second consecutive year. In 2020, output was valued at 9 057 thousand US dollars, marking a 1.0% rise compared to 2019. However, over the period from 2017 to 2020, production declined by 17.3%, which translates to an annualized rate of 6.1%. The lowest value was recorded in 2018 at 8 024 thousand US dollars, with the largest decline of 26.8% occurring that same year. In contrast, the largest increase of 11.8% was observed in 2019.

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

In kind, 2017-2020, t

Greece's refined cottonseed oil and fractions production has increased for the second consecutive year. In 2020, Greece produced 5 462 tonnes, showing a modest 3.2% growth compared to the previous year. Despite this recent uptick, production fell by 32.5% over the 2017-2020 period, corresponding to a compound annual growth rate of 12.3%. The lowest volume was recorded in 2018 at 4 824 tonnes, with the largest decline of 40.4% occurring that year. The largest increase of 9.7% was noted in 2019.

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

Exports refined cottonseed oil and fractions from Greece

Exports in kind, t

Refined cottonseed oil and fractions exports from Greece have declined for the third consecutive year. In 2020, Greece exported 517 tonnes, representing a 9.4% decrease year-over-year. Over the 2017-2020 period, exports dropped by 74.1%, with a compound annual growth rate of 36.2%.

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

From 2017 to 2020, two markets—Bulgaria and Romania—played the leading roles in exports by volume, together accounting for 93.5% of total flows. The remaining volume was distributed among other destinations.

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

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

Exports in value, K $ US

Refined cottonseed oil and fractions exports from Greece have declined for the third consecutive year. In 2020, exports were recorded at 680 thousand US dollars, corresponding to a modest 6.9% decrease year-over-year. Between 2017 and 2020, exports fell by 73.2%, equating to an annualized rate of 35.5%.

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

Throughout 2017–2020, two countries—Bulgaria and Romania—concentrated most of the export value for refined cottonseed oil and fractions from Greece, while other markets were less significant individually.

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

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

Imports refined cottonseed oil and fractions to Greece

Imports in kind, t

The market exhibited an unstable trend throughout the timeframe. Imports reached their lowest point in 2017 and peaked in 2018, showing a sixfold variation between these years. In 2020, Greece imported 277 tonnes of refined cottonseed oil and fractions, up by 32.6% compared to the previous year. The maximum volume was recorded in 2018 at 519 tonnes. The largest decline of 59.8% occurred in 2019, while the largest increase of 500.7% was recorded in 2018.

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

Throughout 2017–2020, the partner structure for imports by volume was centred on Bulgaria, which accounted for 86.6% of total flows. Other markets formed a less significant perimeter.

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

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

Imports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Imports hit their lowest point in 2019 and peaked in 2018, with a 4.6-fold gap between these years. In 2020, Greece imported 185 thousand US dollars worth of refined cottonseed oil and fractions, up by 104.3% year-over-year. The minimum value was recorded in 2019 at 90 thousand US dollars, while the maximum was in 2018 at 417 thousand US dollars. The largest decline of 78.3% occurred in 2019, and the largest increase of 293.0% was noted in 2018.

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

Throughout 2017–2020, Bulgaria concentrated 73.9% of total import value, while the rest of the volume was shared by many countries with smaller individual shares.

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

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