Cotton Oil Production and Turkmenistan's Position in Cotton Oil Market

Nurmyrat Mommayev
Cotton Oil Production and Turkmenistan's Position in Cotton Oil Market
As of 2023, cottonseed oil prices average around $1.20 per kilogram.

Cottonseed oil is widely used in a variety of industries around the world: food, livestock, textile and etc. Cottonseed oil is a key ingredient in many food products. It is commonly used in margarine, biscuits, confectionery, chips, sauces, and other foods. Cotton oil is also widely used in farming, the textile industry, and other industries.

Cottonseed oil production and consumption vary greatly across the globe. Asian countries, particularly India and China, are among the world's largest producers and consumers of cottonseed oil, while Europe and North America consume less.

Several factors influence the global cottonseed oil market, including production volumes, prices, consumer preferences, industry trends, and economic conditions. However, the cottonseed oil industry has tremendous potential and is expected to grow in the future.

Available reports and analyses on the cotton oil industry cover a wide range of topics, including production, consumption, prices, market share, trends, and growth potential. According to 360 Research Reports' report titled "Global Cottonseed Oil Industry Research Report Competitive Landscape, Market Size and Trends 2021-2027," the global cottonseed oil market is expected to grow by 4.1 percent between 2021 and 2027. According to the report, rising consumption in the Asia-Pacific region will support growth in the cotton oil industry.

US Department of Agriculture's "Oilseeds: World Markets and Trade" reports a detailed analysis of cotton oil production, consumption, and trade worldwide. According to the report, India, China, and the United States are the top three producers of cotton oil in the world.

Cotton oil production has increased in recent years, with 4.97 million tons produced in 2021-2022. It is estimated that 5.02 million tons will be produced in 2022-2023. Also in 2020, India produced approximately 28 percent of the world's cotton oil production, totaling 8.2 million tons. China produced 2.7 million tons of cotton oil in 2020, accounting for 11.5 percent of global production.

Cotton oil prices can fluctuate due to factors such as changes in global cotton production, global economic conditions, and demand and supply balance. Cotton oil prices, for example, were low in 2020 due to the COVID-19 pandemic. Cotton oil prices, on the other hand, showed an upward trend in 2021.

Cottonseed oil prices also fluctuate depending on global production and consumption volumes. As of 2023, cottonseed oil prices average around $1.20 per kilogram. These prices may vary depending on consumers' preferences and other factors.

Turkmenistan is a country with a significant presence in the cotton oil industry. Turkmenistan has a large cotton cultivation area, which provides ample opportunities for the country's cotton oil production.

Turkmenistan's cotton oil industry is working hard to improve its position in the global market. The country is investing to increase cotton oil exports and improve product quality. Furthermore, Turkmenistan's cotton oil industry is attempting to improve the production process by utilizing modern technologies.

Nurmyrat Mommayev,

PhD Candidate at Marmara University's Department of Political Science and International Relations in Istanbul, Turkey