CATEGORY

Castor Oil

Major sourcing destinations for Castor oil are India, China and Brazil. India contributes for about 90% of world productionof Castor oil followed by Brazil & China

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Price Trend
134.61
Feb-2023
INR/kg
History Forecast
Supply Demand

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Castor Oil Industry Benchmarks


Savings Achieved

(in %)

The average annual savings achieved in Castor Oil category is 4.60%

Payment Terms

(in days)

The industry average payment terms in Castor Oil category for the current quarter is 30.0 days

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Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

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    Castor Oil Suppliers


    2,278 
    Total Suppliers
    1,300
    Diverse Suppliers
    56
    Normalized Supplier Rating
    Castor Oil Supplier

    Find the right-fit castor oil supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    Givaudan
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

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    Up to 3 months

    1 9
    4
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    49

    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    49
    Social
    45
    Governance
    56
    6 Domains Performance (/100)
    Business behaviour
    45
    Human rights
    46
    Community Environment
    29
    Corporate governance
    70
    Human resources
    42
    Security Scorecard
    79

    Threat indicators
    C
    75
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    F
    53
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    D
    66
    Application Security
    Detecting common website application vulnerbilities
    A
    100
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    C
    77
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    givaudan.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    1
    Human Rights Issues
    0
    Production Supply Chain Issues
    0
    Environmental Non Compliance Flags
    1
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    0
    Fraud Issues
    0
    Labor Health Safety Flags
    2
    Regulatory Issues
    0
    Workforce Disputes
    2
    Sanctions
    0
    esg energy transition
    60
    Discrimination Workforce Rights Issues
    0
    esg controversies critical severity
    No

    Castor Oil market frequently asked questions


    The major sourcing destinations for castor oil are India, China, and Brazil, with India being the major contributor accounting for about 90 percent of the global production of castor oil.

    As per Beroe's castor oil industry reports, the global castor oil market supply is 0.6-0.7 Mn T.

    Higher production and transportation costs have led to a low margin for suppliers while putting the market in an unattractive position for domestic manufacturers.

    Over the years, the castor oil supply has been observed to consecutively decline due to the shift in cultivation to more remunerative crops in India.

    The demand for castor seeds is expected to witness a drastic increase with the increase in the application of end-use industries of castor oil and its derivatives.

    As per Beroe's industry analysis reports, the castor oil market prices were expected to soar during the mentioned period due to the huge gap in the supply-demand curve.

    Due to the fall in castor oil prices, world imports have been reported to increase by 14 percent during the 2015-16 period and by 6 percent during the 2016-17 period. The lower prices also led to a significant drop in the cultivation of the crop in India, Brazil, China, and other countries.

    Although Latin America is among the top supplying regions of castor oil in the world, it loses its competitiveness with India because its domestic consumption exceeds the supply.

    Brazil is the major castor seed-producing country in Latin America, and it has seen a production decline of over 35 percent in the forecast period.

    The factors that led to the decline in castor seed production include ' ' Poor yields/harvest ' Higher production and transportation costs ' Termination of financial assistance from the government to promote castor cultivation and extraction of castor oil for the biodiesel industry

    Castor Oil market report transcript


    Global Market Outlook Of Castor Oil

    The global castor oil market is valued at $1.5 billion in 2019, and it will grow at a CAGR of 3.7 percent by 2024.•The APAC region is dominating the castor oil market and it is likely to drive the market growth in the forecasted period

    Supply–Demand Dynamics: Global

    Castor oil prices are expected to soar in 2017–2018, owing to the huge gap in the supply-demand curve, however, the import market is expected to stagnate this season. Castor oil supply declined by 7 percent and beyond this year, as a reflection of drastic price slumps over 2015–2016. World imports have been observed to be increasing from 2015 by 14 percent in 2015–2016 and 6 percent in 2016–2017, due to a fall in prices. Lower prices for castor oil in 2015–2016, due to excess supply, reflected in a huge drop in the crop cultivation of 2016–2017 in India, Brazil, China, and other countries. The increasing trend in global consumption of castor oil in the import market has come to a halt this year at 690 Thd T, owing to excess stocks accumulated with higher purchases in 2015–2017

    Global Castor Oil Market Outlook Trade Dynamics

    This section of the report gives details of the global castor oil market share. Castor oil prices and availability are driven by various global factors that are detailed in this section of the report. Any standout past trends in the market demand are described. It details the castor oil production market share by the major producing countries.  The global supply-demand analysis is presented graphically along with the castor oil market forecast. Global trade volumes, as well as the country-wise import and export statistics, are listed.

    Regional Market Snapshot

    The castor oil market trends differ in different geographical regions. This part of the report presents detailed facts about the regional castor oil market size, price trends, price drivers as well as the castor oil market forecast for each country. The castor oil market trends that are peculiar to each region and country are listed. The castor oil market share of exporting countries and the countries that they export to are listed. Importing countries and the market share of the countries that they import from are also given. 

    Supply–Demand Dynamics: Latin America 

    In spite of being one of the major supplying regions, Latin America loses its competitiveness with India, as the region's domestic consumption exceeds the supply.Castor seed production growth targets in Brazil, the key producing country in Latin America, has not been accomplished in 2016–2017 and has declined beyond 35 percent this year.Latin America currently contributes to approx. 25 Thd T of castor oil supply, the world's largest supplier in 1970–1980s. Imports surged in 2016–2017 beyond 50 percent to meet the raising demand in the region.Production in Brazil for castor seed and oil has been curbed over the years, owing to several factors, as in poor yields/ha, higher production costs, and transportation costs.Financial assistance from the government to promote castor cultivation for use of castor oil in the biodiesel industry has been terminated, owing to the high cost of cultivation. This has further decreased the attractiveness for castor in Brazil.

    Industry Drivers And Constraints

    The castor oil market demand is driven by the need for vegetable oils, edible oil as well as oils and fats used in the food industry. Changes in the industries that drive the demand affect the castor oil market trends. Weather patterns, customer preferences, and technological innovations also affect the demand in a positive or negative manner. This section of the report helps one fully comprehend the forces that change the castor oil market outlook.

    Price Trend And Forecast

    This section of the castor oil market report details the historical price trends in the recent past and the reasons for any big changes. It also details the castor oil market forecast based on price and demand.