Castor Oil Seed Price in Myanmar - 2022
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Castor Oil Seed Price in Myanmar (CIF) - 2022
The average castor oil seed import price stood at $1,282 per ton in 2022, reducing by -24.4% against the previous year. Overall, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 29%. The import price peaked at $1,880 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($2,332 per ton), while the price for China ($383 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Castor Oil Seed Imports in Myanmar
Castor oil seed imports into Myanmar fell to 8.4 tons in 2022, dropping by -12.6% on 2021 figures. Overall, imports showed a sharp decline. The growth pace was the most rapid in 2021 when imports increased by 194% against the previous year.
In value terms, castor oil seed imports contracted remarkably to $11K in 2022. In general, imports continue to indicate a dramatic slump. The pace of growth appeared the most rapid in 2021 when imports increased by 211% against the previous year.
Import of Castor Oil Seed in Myanmar (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Thailand | 9.7 | 3.6 | 8.5 | 5.6 | -16.7% |
India | 20.6 | 0.7 | 5.4 | 3.6 | -44.1% |
China | 4.1 | 0.9 | 2.3 | 1.5 | -28.5% |
Others | 0.4 | N/A | 0.1 | 0.1 | -37.0% |
Total | 34.8 | 5.3 | 16.3 | 10.8 | -32.3% |
Top Suppliers of Castor Oil Seed to Myanmar in 2022:
- China (4.0 tons)
- Thailand (2.9 tons)
- India (1.6 tons)
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