Oil Crops Market in China
In value terms, oil crops production stood at $ in estimated in export price. Over the period under review, the total production indicated perceptible growth from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of % against the previous year. As a result, production attained the peak level of $. From to , production growth remained at a lower figure.
The average yield of oil crops (primary) in China declined to tonnes per ha in , with a decrease of -% against the previous year's figure. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the yield increased by %. Over the period under review, the average oil crops yield attained the maximum level at tonnes per ha in 2012; however, from 2013 to , the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In , the harvested area of oil crops (primary) in China totaled ha, stabilizing at the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of % against the previous year. Over the period under review, the harvested area dedicated to oil crops production reached the maximum in and is expected to retain growth in years to come.
The revenue of the oil crops market in China rose markedly to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated noticeable growth from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. Over the period under review, the market attained the peak level in and is expected to retain growth in the immediate term.
From 2007 to , the average annual rate of growth in terms of the volume of consumption of soya beans amounted to +%. With regard to the other consumed products, the following average annual rates of growth were recorded: ground-nut (in-shell) (+% per year) and rape or colza seed (+% per year).
In value terms, soya beans ($), rape or colza seed ($) and ground-nut (in-shell) ($) constituted the products with the highest levels of market value in , together accounting for % of the total market. These products were followed by sunflower seed, cottonseed, sesame seed, coconuts, linseed, mustard seed, poppy seed and oilcrops, nes, which together accounted for a further %.
Coconut, with a CAGR of +%, saw the highest growth rate of market size, among the main consumed products over the period under review, while market for the other products experienced more modest paces of growth.