Castor Oil Seed Price in Hungary - 2023
Contents:
- Castor Oil Seed Price in Hungary (CIF) - 2022
- Castor Oil Seed Price in Hungary (FOB) - 2022
- Castor Oil Seed Imports in Hungary
- Castor Oil Seed Exports in Hungary
Castor Oil Seed Price in Hungary (CIF) - 2022
In 2022, the average castor oil seed import price amounted to $4,406 per ton, surging by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2014 an increase of 32%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($27,993 per ton), while the price for China ($2,391 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+54.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Castor Oil Seed Price in Hungary (FOB) - 2022
The average castor oil seed export price stood at $3,612 per ton in 2022, jumping by 23% against the previous year. In general, the export price, however, showed a deep setback. The pace of growth appeared the most rapid in 2016 when the average export price increased by 209%. The export price peaked at $14,274 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Slovenia ($7,324 per ton), while the average price for exports to Germany ($2,233 per ton) was amongst the lowest.
From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.
Castor Oil Seed Imports in Hungary
In 2022, overseas purchases of castor oil seed decreased by -15% to 37 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports saw a slight contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 7.7% against the previous year.
In value terms, castor oil seed imports reduced to $164K in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +14.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 39% against the previous year. As a result, imports reached the peak of $175K, and then shrank in the following year.
| Import of Castor Oil Seed in Hungary (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 96.9 | 111 | 70.8 | 67.1 | -11.5% |
| India | N/A | N/A | 47.4 | 47.3 | -0.2% |
| Belgium | 12.1 | 14.2 | 15.1 | 19.6 | 17.4% |
| Netherlands | N/A | N/A | 10.7 | 16.3 | 52.3% |
| United Kingdom | N/A | N/A | 4.9 | 7.2 | 46.9% |
| China | N/A | 0.8 | 20.3 | 3.5 | 109.2% |
| Others | 0.1 | 0.3 | 5.6 | 2.8 | 203.7% |
| Total | 109 | 126 | 175 | 164 | 14.6% |
Top Suppliers of Castor Oil Seed to Hungary in 2022:
- Germany (21.4 tons)
- Belgium (6.4 tons)
- Netherlands (4.8 tons)
- India (1.7 tons)
- China (1.4 tons)
- United Kingdom (1.2 tons)
Castor Oil Seed Exports in Hungary
In 2022, exports of castor oil seed from Hungary reduced dramatically to 2.3 tons, declining by -24.4% on the year before. In general, exports, however, posted significant growth. The pace of growth was the most pronounced in 2021 with an increase of 1,242% against the previous year. As a result, the exports reached the peak of 3.1 tons, and then dropped dramatically in the following year.
In value terms, castor oil seed exports reduced to $8.4K in 2022. Overall, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 617% against the previous year. As a result, the exports reached the peak of $9K, and then dropped in the following year.
| Export of Castor Oil Seed in Hungary (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Slovakia | N/A | N/A | 2.1 | 3.4 | 61.9% |
| Germany | N/A | N/A | 4.2 | 3.2 | -23.8% |
| Slovenia | N/A | N/A | 0.7 | 1.3 | 85.7% |
| Serbia | 1.4 | 1.2 | 1.8 | 0.3 | -40.2% |
| Others | N/A | N/A | 0.2 | 0.1 | -50.0% |
| Total | 1.4 | 1.3 | 9.0 | 8.4 | 81.7% |
Top Export Markets for Castor Oil Seed from Hungary in 2022:
- Germany (1440.0 kg)
- Slovakia (629.0 kg)
- Slovenia (176.0 kg)
- Serbia (52.0 kg)
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