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India - Safflower Seed - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

India - Safflower Seed - Market Analysis, Forecast, Size, Trends and Insights

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May 24, 2023

Safflower Seed Price in India Plummets 46% to $747 per Ton

India Safflower Seed Export Price in February 2023

In February 2023, the safflower seed price amounted to $747 per ton (FOB, India), waning by -45.6% against the previous month. Overall, the export price recorded a pronounced decline. The growth pace was the most rapid in January 2023 an increase of 74% m-o-m. As a result, the export price attained the peak level of $1,373 per ton, and then fell notably in the following month.

Average prices varied somewhat for the major overseas markets. In February 2023, the highest price was recorded for prices to South Korea ($936 per ton) and Vietnam ($753 per ton), while the average price for exports to the Philippines ($731 per ton) and Japan ($741 per ton) were amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+3.9%), while the prices for the other major destinations experienced a decline.

COUNTRYExport Price of Safflower Seed in India (USD per ton)
Feb 2022Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023
South Korea1,135884933< 0.1917848820< 0.17839658534,323936
Vietnam< 0.1< 0.1877842< 0.1827805< 0.1< 0.1< 0.1< 0.1< 0.1753
Thailand946< 0.1< 0.1783< 0.1803< 0.1< 0.1< 0.1< 0.1750< 0.1747
Japan< 0.1800822832< 0.1853765725< 0.1822742766741
Philippines907< 0.1854793867796827777< 0.1722752793731
Kuwait< 0.1861819< 0.1860835< 0.1777728< 0.11,218< 0.1< 0.1
Average1,0068368638139738327957767578357881,373747

India Safflower Seed Exports

Safflower seed exports from India soared to 210 tons in February 2023, growing by 64% against the previous month. Over the period under review, exports posted a resilient expansion. The most prominent rate of growth was recorded in April 2022 with an increase of 381% against the previous month. As a result, the exports attained the peak of 534 tons. From May 2022 to February 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, safflower seed exports shrank to $157K (IndexBox estimates) in February 2023. Overall, exports posted resilient growth. The pace of growth was the most pronounced in April 2022 with an increase of 396% m-o-m. As a result, the exports attained the peak of $461K. From May 2022 to February 2023, the growth of the exports remained at a somewhat lower figure.

India Safflower Seed Exports by Country

the Philippines (79 tons), Japan (72 tons) and Vietnam (34 tons) were the main destinations of safflower seed exports from India, with a combined 88% share of total exports. Thailand and South Korea lagged somewhat behind, together accounting for a further 12%.

From February 2022 to February 2023, the biggest increases were in Thailand (with a CAGR of +7.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for safflower seed exported from India were the Philippines ($58K), Japan ($53K) and Vietnam ($25K), with a combined 87% share of total exports. Thailand and South Korea lagged somewhat behind, together accounting for a further 13%.

In terms of the main countries of destination, Thailand, with a CAGR of +4.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the safflower seed market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 280 -

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, HARVESTED AREA AND YIELD

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Area Harvested, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023

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