Australia: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Australia

The Australian market for crude sunflower-seed and safflower oil skyrocketed to $X in 2022, jumping by 86% against the previous year. Over the period under review, consumption showed a noticeable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Crude Sunflower-Seed And Safflower Oil in Australia

In value terms, crude sunflower-seed and safflower oil production expanded remarkably to $X in 2022 estimated in export price. Overall, production, however, showed a noticeable descent. The growth pace was the most rapid in 2013 with an increase of 96% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Australia

In 2022, exports of crude sunflower-seed and safflower oil from Australia declined rapidly to X tons, with a decrease of -71.5% compared with 2021. Overall, exports recorded a sharp slump. The growth pace was the most rapid in 2016 with an increase of 1,456%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil exports plummeted to $X in 2022. In general, exports faced a abrupt setback. The pace of growth appeared the most rapid in 2016 with an increase of 884% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for crude sunflower-seed and safflower oil exports from Australia, with a approx. 98% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to New Zealand stood at +42.2%.

In value terms, New Zealand ($X) also remains the key foreign market for crude sunflower-seed and safflower oil exports from Australia.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand stood at +33.9%.

Export Prices by Country

In 2022, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, rising by 65% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 82%. The export price peaked in 2022 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for New Zealand.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +26.7% per year.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Australia

In 2022, after four years of decline, there was significant growth in purchases abroad of crude sunflower-seed and safflower oil, when their volume increased by 74% to X tons. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil imports soared to $X in 2022. Overall, imports showed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Argentina (X tons) was the main crude sunflower-seed and safflower oil supplier to Australia, accounting for a 94% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Argentina exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Argentina totaled +3.1%.

In value terms, Argentina ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to Australia, comprising 95% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 4.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Argentina totaled +6.9%.

Import Prices by Country

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, picking up by 30% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude sunflower-seed and safflower oil import price increased by +120.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Ukraine amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+3.7%).

Source: IndexBox Platform

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