Algeria: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Algeria

The Algerian sunflower-seed and safflower oil market soared to $X in 2022, growing by 50% against the previous year. Over the period under review, consumption, however, faced a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Sunflower-Seed And Safflower Oil in Algeria

In value terms, sunflower-seed and safflower oil production expanded slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible increase. The most prominent rate of growth was recorded in 2014 with an increase of 365% against the previous year. Sunflower-seed and safflower oil production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Sunflower-Seed And Safflower Oil

Exports from Algeria

In 2022, shipments abroad of sunflower-seed and safflower oil increased by 7.6% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 58%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sunflower-seed and safflower oil exports shrank to $X in 2022. Overall, exports, however, saw a sharp descent. The pace of growth appeared the most rapid in 2016 when exports increased by 37%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Libya (X tons) was the main destination for sunflower-seed and safflower oil exports from Algeria, with a 75% share of total exports. Moreover, sunflower-seed and safflower oil exports to Libya exceeded the volume sent to the second major destination, Saudi Arabia (X tons), fourfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume to Libya totaled +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-23.5% per year) and the United Arab Emirates (-34.2% per year).

In value terms, Libya ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) appeared to be the largest markets for sunflower-seed and safflower oil exported from Algeria worldwide, together accounting for 97% of total exports. Canada, Syrian Arab Republic, Kuwait and Lebanon lagged somewhat behind, together accounting for a further 2.1%.

In terms of the main countries of destination, Canada, with a CAGR of +13.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average sunflower-seed and safflower oil export price stood at $X per ton in 2022, waning by -9.6% against the previous year. Overall, the export price showed a perceptible setback. The growth pace was the most rapid in 2020 an increase of 22%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Syrian Arab Republic ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Syrian Arab Republic (+21.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Algeria

Sunflower-seed and safflower oil imports into Algeria surged to X tons in 2022, growing by 102% against 2021 figures. Overall, imports, however, continue to indicate a abrupt descent. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sunflower-seed and safflower oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 50% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) constituted the largest sunflower-seed and safflower oil supplier to Algeria, accounting for a 61% share of total imports. Moreover, 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 rate of growth in terms of volume from Russia stood at +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 sunflower-seed and safflower oil suppliers to Algeria were Argentina ($X), Russia ($X) and Ukraine ($X), together accounting for 96% of total imports. Turkey lagged somewhat behind, comprising a further 3.6%.

Turkey, with a CAGR of +86.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sunflower-seed and safflower oil import price stood at $X per ton in 2022, shrinking by -32.7% against the previous year. Over the period under review, the import price showed a pronounced downturn. The growth pace was the most rapid in 2021 an increase of 77%. As a result, import price attained the peak level of $X per ton, and then declined remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 Turkey (+20.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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