Algeria: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Algeria

The Algerian market for crude sunflower-seed and safflower oil surged to $X in 2022, jumping by 49% against the previous year. Over the period under review, consumption, however, recorded a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Crude Sunflower-Seed And Safflower Oil in Algeria

In value terms, crude sunflower-seed and safflower oil production rose remarkably to $X in 2022 estimated in export price. In general, production saw a noticeable shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 435%. Crude sunflower-seed and safflower oil production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Algeria

Crude sunflower-seed and safflower oil exports from Algeria dropped notably to X tons in 2022, with a decrease of -38.2% against the year before. Over the period under review, exports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 579% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced sharply in the following year.

In value terms, crude sunflower-seed and safflower oil exports reduced notably to $X in 2022. In general, exports showed a mild setback. The pace of growth was the most pronounced in 2021 with an increase of 354%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for crude sunflower-seed and safflower oil exports from Algeria, accounting for a 99.9% share of total exports. It was followed by Qatar (X kg), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled +62.2%.

In value terms, Canada ($X) remains the key foreign market for crude sunflower-seed and safflower oil exports from Algeria, comprising 99% of total exports. The second position in the ranking was taken by Qatar ($X), with a 0.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Canada totaled +72.8%.

Export Prices by Country

The average export price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, approximately mirroring the previous year. In general, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of 97%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+20.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Algeria

Crude sunflower-seed and safflower oil imports into Algeria soared to X tons in 2022, rising by 102% against the previous year's figure. Overall, imports, however, faced a deep setback. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil imports soared to $X in 2022. Over the period under review, imports, however, recorded a abrupt downturn. The growth pace was the most rapid in 2020 when imports increased by 49%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest crude sunflower-seed and safflower oil supplier to Algeria, accounting for a 61% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Russia exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. Ukraine (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Russia amounted to +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+2.7% per year) and Ukraine (-29.9% per year).

In value terms, the largest crude sunflower-seed and safflower oil suppliers to Algeria were Argentina ($X), Russia ($X) and Ukraine ($X), with a combined 96% share of total imports. These countries were followed by Turkey, which accounted for a further 3.6%.

Among the main suppliers, Turkey, with a CAGR of +2,074,754.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, dropping by -32.8% against the previous year. In general, the import price recorded a perceptible decrease. The pace of growth was the most pronounced in 2021 an increase of 77%. As a result, import price attained the peak level of $X per ton, and then declined sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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