The global cottonseed import volume forecast for 2024 shows China leading with 17.71 thousand metric tons, marking significant growth with an 8.88% increase year-on-year from 2023. Mexico follows closely at 16.12 thousand metric tons with a moderate growth of 3.39%. Despite China's and Mexico's notable increases, South Korea's volume slightly decreased by 1.33%, standing at 14.24 thousand metric tons. Significant decreases were observed in Spain and South Africa with -8.34% and -8.97% respectively. Other countries such as Cyprus, Azerbaijan, and Tajikistan show strong positive growth trends of 8.45% year-on-year.
Future trends to watch include the stability of the cottonseed market in countries with stagnant growth such as Mali and Saudi Arabia, both remaining constant at 10.88 and 10.29 thousand metric tons respectively. The continued growth of emerging markets such as Cyprus and Azerbaijan could also impact global shares. Conversely, ongoing declines in Spain and South Africa might suggest a need for market adjustments or strategic shifts in response to underlying challenges affecting these regions.
Top countries in Cottonseed Import Volume Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 17.71 | 2023 | +3.47% | +8.88% | View data |
| 2 | 2 Mexico | 16.12 | 2023 | +2.52% | +3.39% | View data |
| 3 | 3 South Korea | 14.24 | 2023 | -1.37% | -1.33% | View data |
| 4 | 4 Mali | 10.88 | 2023 | 0% | 0% | View data |
| 5 | 5 Saudi Arabia | 10.29 | 2023 | 0% | 0% | View data |
| 6 | 6 Japan | 9.69 | 2023 | -1.01% | -0.99% | View data |
| 7 | 7 Italy | 9.5 | 2023 | -3.03% | -4.04% | View data |
| 8 | 8 Burkina Faso | 7.52 | 2023 | +5.56% | +2.25% | View data |
| 9 | 9 Spain | 1.09 | 2023 | -15.38% | -8.34% | View data |
| 10 | 10 South Africa | 0.99 | 2023 | -9.09% | -8.97% | View data |
