ASEAN: Sunflower Seed Market 2024

Sunflower Seed Market Size in ASEAN

The ASEAN sunflower seed market was finally on the rise to reach $X in 2022, after six years of decline. In general, consumption, however, continues to indicate a noticeable decrease. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Sunflower Seed Production in ASEAN

In value terms, sunflower seed production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt downturn. The growth pace was the most rapid in 2014 when the production volume increased by 149% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Myanmar (X tons) remains the largest sunflower seed producing country in ASEAN, accounting for 89% of total volume. Moreover, sunflower seed production in Myanmar exceeded the figures recorded by the second-largest producer, Thailand (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume in Myanmar amounted to -5.1%.

The average sunflower seed yield dropped slightly to X kg per ha in 2022, remaining stable against the previous year. The yield figure increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the yield increased by 38%. Over the period under review, the sunflower seed yield reached the peak level at X kg per ha in 2014; however, from 2015 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of sunflower seed production in ASEAN expanded slightly to X ha, picking up by 2.4% compared with 2021. In general, the harvested area, however, showed a abrupt setback. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Sunflower Seed Exports

Exports in ASEAN

In 2022, shipments abroad of sunflower seed decreased by -63.5% to X tons, falling for the third consecutive year after three years of growth. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 1,166%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, sunflower seed exports declined sharply to $X in 2022. Over the period under review, exports saw a deep reduction. The pace of growth appeared the most rapid in 2018 when exports increased by 241% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand prevails in exports structure, resulting at X tons, which was approx. 81% of total exports in 2022. Singapore (X tons) held the second position in the ranking, followed by Vietnam (X tons). All these countries together took near 14% share of total exports. Indonesia (X tons) and Malaysia (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the sunflower seed exports, with a CAGR of +31.4% from 2012 to 2022. At the same time, Indonesia (+16.4%) displayed positive paces of growth. By contrast, Vietnam (-2.9%), Singapore (-16.4%) and Malaysia (-25.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and Indonesia increased by +75 and +2.9 percentage points, respectively.

In value terms, Thailand ($X) remains the largest sunflower seed supplier in ASEAN, comprising 67% of total exports. The second position in the ranking was taken by Singapore ($X), with an 18% share of total exports. It was followed by Indonesia, with a 7.1% share.

In Thailand, sunflower seed exports expanded at an average annual rate of +9.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-15.2% per year) and Indonesia (+30.8% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, growing by 28% against the previous year. Overall, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when the export price increased by 74% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+12.4%), while the other leaders experienced more modest paces of growth.

Sunflower Seed Imports

Imports in ASEAN

In 2022, supplies from abroad of sunflower seed was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 63% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sunflower seed imports surged to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of sunflower seed imports in 2022 were Indonesia (X tons), Vietnam (X tons) and Thailand (X tons), together recording 82% of total import. Myanmar (X tons) took the next position in the ranking, followed by the Philippines (X tons) and Malaysia (X tons). All these countries together held near 17% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +7.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sunflower seed importing markets in ASEAN were Indonesia ($X), Vietnam ($X) and Thailand ($X), with a combined 84% share of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of +14.9%, recorded the highest rates of growth with regard to 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 import price in ASEAN stood at $X per ton in 2022, growing by 6.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2013 when the import price increased by 30%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform