In 2023, Nigeria emerged as the largest importer of cottonseed oil with a 4.94% increase from the previous year, followed by Mexico and Australia with stable import volumes. France showed the most significant growth, up 8.45%, while Tajikistan and Mali experienced significant declines. Germany's import volume surged by 24.57%, indicating potential new demand in the region. Several countries maintained stable import volumes, reflecting consistent consumption patterns.
Looking forward, key trends to watch include:
- Nigeria's continued dominance and potential for increased imports due to rising demand.
- Germany's rapid growth could indicate a shift towards alternative oils, requiring further monitoring.
- Stabilization in countries with no variation suggests mature markets with steady demand.
- Global market volatility may affect trade flows and pricing, influencing future import volumes.
Top countries in Cottonseed Oil Import Volume by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Nigeria | 28 | 2023 | +3.7% | +4.94% | View data |
| 2 | 2 Mexico | 23 | 2023 | +4.55% | 0% | View data |
| 3 | 3 Australia | 18 | 2023 | 0% | +2.38% | View data |
| 4 | 4 Malaysia | 14 | 2023 | 0% | +1.49% | View data |
| 5 | 5 Tajikistan | 11 | 2023 | -15.38% | -11.27% | View data |
| 6 | 6 Canada | 8 | 2023 | 0% | -2.33% | View data |
| 7 | 7 South Africa | 8 | 2023 | 0% | 0% | View data |
| 8 | 8 Uzbekistan | 6 | 2023 | 0% | 0% | View data |
| 9 | 9 France | 6 | 2023 | 0% | +8.45% | View data |
| 10 | 10 Benin | 5 | 2023 | +25% | +4.56% | View data |
