Argentina: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Argentina

After three years of growth, the Argentinian market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -2.4% to $X in 2021. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then fell slightly in the following year.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Argentina

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 12% against the previous year. Production of peaked at $X in 2020, and then reduced in the following year.

Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Exports from Argentina

In 2021, overseas shipments of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -16.8% to X tons, falling for the fourth consecutive year after two years of growth. In general, exports, however, showed slight growth. The pace of growth appeared the most rapid in 2017 when exports increased by 154% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 128% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Chile (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Argentina, accounting for a 79% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Chile exceeded the volume sent to the second major destination, Paraguay (X tons), eightfold. The third position in this ranking was taken by Uruguay (X tons), with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile totaled +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+5.7% per year) and Uruguay (+15.2% per year).

In value terms, Chile ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Argentina, comprising 79% of total exports. The second position in the ranking was taken by Paraguay ($X), with a 10% share of total exports. It was followed by Uruguay, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Chile amounted to +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+5.6% per year) and Uruguay (+14.5% per year).

Export Prices by Country

In 2021, the average export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, increasing by 44% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, the countries with the highest prices were Paraguay ($X per ton) and Uruguay ($X per ton), while the average price for exports to the United States ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (-0.1%), while the prices for the other major destinations experienced a decline.

Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Imports into Argentina

After three years of growth, overseas purchases of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -88.6% to X tons in 2021. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 11,683% against the previous year. As a result, imports attained the peak of X tons, and then fell remarkably in the following year.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified reduced notably to $X in 2021. In general, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 1,736%. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

In 2021, Brazil (X tons) constituted the largest sunflower-seed or safflower oil, refined, but not chemically modified supplier to Argentina, accounting for a 63% share of total imports. Moreover, imports of sunflower-seed or safflower oil, refined, but not chemically modified from Brazil exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was held by Germany (X kg), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil totaled +2,886.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+85.4% per year) and Germany (+69.0% per year).

In value terms, the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to Argentina were Brazil ($X), Germany ($X) and Mexico ($X), together accounting for 97% of total imports.

Brazil, with a CAGR of +2,238.4%, 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 import price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, rising by 153% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable setback. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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