The market value increased at an average annual rate of 2,3% from 2007 to 2018. The trend indicated some noticeable fluctuations in certain years. Global cottonseed oil consumption peaked at $8,9 billion in 2013; however, from 2014 to 2018, consumption was somewhat lower.
Consumption by country
Countries with the highest volumes of cottonseed oil consumption in 2018 were India (1,6 million tons), China (1,4 million tons) and Pakistan (470 000 tons), together comprising 62% of global consumption. These countries were followed by Brazil, Australia, Uzbekistan, Turkey, the United States (US), Burkina Faso and Myanmar, which together accounted for a further 25%.
Global production
In 2018, the amount of cottonseed oil produced worldwide stood at 5,7 million tons, increasing by 2,7% against the previous year. The total output volume increased at an average annual rate of 1% from 2007 to 2018. The trend remained relatively stable, with only minor fluctuations over the period under review. Global cottonseed oil production peaked in 2018 and is likely to continue its growth in the immediate term.
In value terms, cottonseed oil production stood at $7,4 billion in 2018 estimated in export prices. During the period under review, the total output indicated a modest increase from 2007 to 2018. Its value increased at an average annual rate of 1% over the past eleven years. The trend, however, indicated some noticeable fluctuations throughout the analysed period. Global cottonseed oil production peaked at $9,4 billion in 2013 but failed to regain its momentum from 2014 to 2018.
This story is from the December 2019 edition of FarmBiz.
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This story is from the December 2019 edition of FarmBiz.
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