Asia-Pacific: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Asia-Pacific

The Asia-Pacific sunflower oilcake market was estimated at $X in 2021, rising by 2.1% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -0.4% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Sunflower Oilcake Production in Asia-Pacific

In value terms, sunflower oilcake production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 22% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Sunflower Oilcake Exports

Exports in Asia-Pacific

In 2021, sunflower oilcake exports in Asia-Pacific declined to X tons, with a decrease of -14.6% compared with the previous year's figure. Overall, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 170%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, sunflower oilcake exports fell notably to $X in 2021. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by 221%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia was the major exporting country with an export of about X tons, which reached 49% of total exports. It was distantly followed by China (X tons), Thailand (X tons), India (X tons) and Nepal (X tons), together comprising a 48% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +60.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Australia ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2021, with a combined 90% share of total exports.

Among the main exporting countries, Thailand, with a CAGR of +54.4%, recorded 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.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, declining by -5.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 19% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the other leaders experienced a decline in the export price figures.

Sunflower Oilcake Imports

Imports in Asia-Pacific

In 2021, purchases abroad of sunflower oilcake decreased by -2.8% to X tons for the first time since 2014, thus ending a six-year rising trend. Overall, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 170%. The volume of import peaked at X tons in 2020, and then dropped in the following year.

In value terms, sunflower oilcake imports skyrocketed to $X in 2021. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 255% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

China dominates imports structure, accounting for X tons, which was approx. 85% of total imports in 2021. It was distantly followed by India (X tons), comprising a 7.4% share of total imports. The following importers - Vietnam (X tons), Malaysia (X tons) and Thailand (X tons) - each finished at a 5.2% share of total imports.

China was also the fastest-growing in terms of the sunflower oilcake imports, with a CAGR of +225.8% from 2012 to 2021. At the same time, Malaysia (+77.9%), Vietnam (+20.9%), India (+16.5%) and Thailand (+11.7%) displayed positive paces of growth. China (+85 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, Thailand and India saw its share reduced by -9.8%, -16.3% and -52.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported sunflower oilcake in Asia-Pacific, comprising 87% of total imports. The second position in the ranking was taken by India ($X), with a 7.1% share of total imports. It was followed by Vietnam, with a 1.8% share.

In China, sunflower oilcake imports increased at an average annual rate of +258.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+20.6% per year) and Vietnam (+24.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, surging by 41% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and India ($X per ton), while Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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