Asia: Sunflower Seed Market 2024

Sunflower Seed Market Size in Asia

The Asian sunflower seed market reached $X in 2022, with an increase of 4.1% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Sunflower Seed Production in Asia

In value terms, sunflower seed production amounted to $X in 2022 estimated in export price. Overall, production showed a slight decrease. The pace of growth was the most pronounced in 2017 when the production volume increased by 26%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were China (X tons), Turkey (X tons) and Kazakhstan (X tons), together comprising 89% of total production.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +8.9%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average sunflower seed yield in Asia totaled X tons per ha, almost unchanged from the year before. The yield figure increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the yield increased by 18% against the previous year. The level of yield peaked at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the sunflower seed harvested area in Asia declined to X ha, dropping by -5.3% compared with the previous year. Over the period under review, the harvested area recorded a slight reduction. The most prominent rate of growth was recorded in 2021 when the harvested area increased by 12%. Over the period under review, the harvested area dedicated to sunflower seed production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Sunflower Seed Exports

Exports in Asia

After two years of decline, overseas shipments of sunflower seed increased by 30% to X tons in 2022. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 57% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, sunflower seed exports soared to $X in 2022. Overall, exports recorded a prominent increase. The pace of growth was the most pronounced in 2015 when exports increased by 26%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

China (X tons) and Kazakhstan (X tons) represented the key exporters of sunflower seed in 2022, amounting to near 48% and 38% of total exports, respectively. It was distantly followed by Turkey (X tons), achieving a 12% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +11.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest sunflower seed supplier in Asia, comprising 62% of total exports. The second position in the ranking was taken by Turkey ($X), with a 21% share of total exports.

In China, sunflower seed exports increased at an average annual rate of +9.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+8.5% per year) and Kazakhstan (+15.9% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, waning by -6.6% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 30%. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Sunflower Seed Imports

Imports in Asia

In 2022, overseas purchases of sunflower seed increased by 18% to X tons, rising for the seventh consecutive year after three years of decline. In general, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2019 when imports increased by 82%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, sunflower seed imports surged to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 42% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China was the key importer of sunflower seed in Asia, with the volume of imports recording X tons, which was approx. 57% of total imports in 2022. Turkey (X tons) held a 25% share (based on physical terms) of total imports, which put it in second place, followed by Kazakhstan (4.5%). The following importers - Uzbekistan (X tons) and Iraq (X tons) - together made up 6% of total imports.

China was also the fastest-growing in terms of the sunflower seed imports, with a CAGR of +90.3% from 2012 to 2022. At the same time, Kazakhstan (+23.0%) and Iraq (+22.3%) displayed positive paces of growth. Turkey experienced a relatively flat trend pattern. By contrast, Uzbekistan (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Uzbekistan and Kazakhstan increased by +57, +3.7 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported sunflower seed in Asia, comprising 49% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 9.1% share of total imports. It was followed by China, with an 8.9% share.

In Turkey, sunflower seed imports increased at an average annual rate of +3.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+21.5% per year) and China (+12.6% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, surging by 5.4% against the previous year. Over the period under review, the import price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2013 when the import price increased by 18%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 Iraq ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+14.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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