Castor Oil Seed Price in Uzbekistan - 2023

Castor Oil Seed Price in Uzbekistan (CIF) - 2022

The average castor oil seed import price stood at $2,780 per ton in 2022, with an increase of 53% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $2,906 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 China ($4,000 per ton), while the price for Russia ($1,000 per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Castor Oil Seed Price in Uzbekistan (FOB) - 2022

In 2022, the average castor oil seed export price amounted to $8,056 per ton, increasing by 338% against the previous year. In general, the export price, however, showed a pronounced shrinkage. Over the period under review, the average export prices attained the maximum at $8,680 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkmenistan.

From 2020 to 2022, the rate of growth in terms of prices for Turkmenistan amounted to -3.7% per year.

Castor Oil Seed Imports in Uzbekistan

For the fourth consecutive year, Uzbekistan recorded growth in overseas purchases of castor oil seed, which increased by 68% to 92 tons in 2022. Overall, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 80% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, castor oil seed imports soared to $257K in 2022. Over the period under review, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Castor Oil Seed in Uzbekistan (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	32.5	73.2	57.6	190	80.1%
China	15.5	16.7	9.9	39.5	36.6%
Belgium	N/A	5.8	N/A	17.1	71.7%
South Korea	2.9	0.7	1.0	4.8	18.3%
Turkey	4.4	2.5	0.4	4.5	0.8%
Czech Republic	N/A	N/A	14.2	N/A	0%
Others	10.4	6.3	16.9	0.5	-63.6%
Total	65.8	105	100	257	57.5%

Top Suppliers of Castor Oil Seed to Uzbekistan in 2022:

India (70.2 tons)
China (9.9 tons)
Belgium (5.0 tons)
South Korea (3.5 tons)
Turkey (3.1 tons)

Castor Oil Seed Exports in Uzbekistan

In 2022, after two years of growth, there was significant decline in shipments abroad of castor oil seed, when their volume decreased by -12.9% to 250 kg. Over the period under review, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 474%. As a result, the exports attained the peak of 287 kg, and then shrank in the following year.

In value terms, castor oil seed exports surged to $2K in 2022. Overall, exports, however, posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.