Asia: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Asia

The Asian sunflower oilcake market was estimated at $X in 2021, surging by 2.3% against the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -0.3% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Sunflower Oilcake Production in Asia

In value terms, sunflower oilcake production expanded modestly to $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 throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Sunflower Oilcake Exports

Exports in Asia

Sunflower oilcake exports shrank to X tons in 2021, which is down by -13.7% against 2020 figures. Over the period under review, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 122%. The volume of export peaked at X tons in 2020, and then fell in the following year.

In value terms, sunflower oilcake exports skyrocketed to $X in 2021. Overall, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 120% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the near future.

Exports by Country

In 2021, Kazakhstan (X tons) represented the largest exporter of sunflower oilcake, making up 54% of total exports. It was distantly followed by Turkey (X tons), mixing up a 35% share of total exports. China (X tons), Georgia (X tons) and Thailand (X tons) followed a long way behind the leaders.

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, the largest sunflower oilcake supplying countries in Asia were Kazakhstan ($X), Turkey ($X) and China ($X), together comprising 93% of total exports. Thailand and Georgia lagged somewhat behind, together comprising a further 4.4%.

Thailand, with a CAGR of +54.4%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 amounted to $X per ton, increasing by 54% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+8.3%), while the other leaders experienced more modest paces of growth.

Sunflower Oilcake Imports

Imports in Asia

In 2021, after seven years of growth, there was decline in overseas purchases of sunflower oilcake, when their volume decreased by -3.1% to X tons. In general, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 64% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then declined in the following year.

In value terms, sunflower oilcake imports surged to $X in 2021. Overall, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by 69% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) was the largest importer of sunflower oilcake, comprising 55% of total imports. Turkey (X tons) took the second position in the ranking, distantly followed by India (X tons) and Israel (X tons). All these countries together held approx. 37% 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, India (+16.5%) and Turkey (+4.8%) displayed positive paces of growth. By contrast, Israel (-3.5%) illustrated a downward trend over the same period. While the share of China (+55 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Israel (-16.9 p.p.) and Turkey (-31.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported sunflower oilcake in Asia, comprising 59% of total imports. The second position in the ranking was taken by Turkey ($X), with a 25% share of total imports. It was followed by India, with a 4.8% 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: Turkey (+7.9% per year) and India (+20.6% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, surging by 39% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably 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 Israel ($X per ton) and Turkey ($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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