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

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

After two years of growth, the Austrian market for crude sunflower-seed and safflower oil decreased by -1.4% to $X in 2022. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.8% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then contracted modestly in the following year.

Production of Crude Sunflower-Seed And Safflower Oil in Austria

In value terms, crude sunflower-seed and safflower oil production reduced to $X in 2022 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +12.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +15.4% against 2013 indices. The pace of growth was the most pronounced in 2013 with an increase of 169%. Crude sunflower-seed and safflower oil production peaked at $X in 2021, and then contracted slightly in the following year.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Austria

In 2022, shipments abroad of crude sunflower-seed and safflower oil increased by 72% to X tons, rising for the sixth year in a row after three years of decline. In general, exports recorded a significant increase. The growth pace was the most rapid in 2013 with an increase of 494%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil exports surged to $X in 2022. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 336%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Germany (X tons) was the main destination for crude sunflower-seed and safflower oil exports from Austria, with a 65% share of total exports. Moreover, crude sunflower-seed and safflower oil exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Italy (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +38.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+27.8% per year) and Italy (+58.5% per year).

In value terms, Germany ($X) remains the key foreign market for crude sunflower-seed and safflower oil exports from Austria, comprising 75% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 17% share of total exports. It was followed by Italy, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +39.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+26.7% per year) and Italy (+52.0% per year).

Export Prices by Country

In 2022, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, picking up by 44% against the previous year. Overall, the export price, however, recorded a mild slump. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Austria

In 2022, approx. X tons of crude sunflower-seed and safflower oil were imported into Austria; increasing by 14% against 2021 figures. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +119.0% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 63%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil imports surged to $X in 2022. In general, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 84% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

Hungary (X tons), Ukraine (X tons) and Germany (X tons) were the main suppliers of crude sunflower-seed and safflower oil imports to Austria, together accounting for 68% of total imports. Slovenia, Romania, Poland and Italy lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +53.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude sunflower-seed and safflower oil suppliers to Austria were Hungary ($X), Ukraine ($X) and Germany ($X), together comprising 67% of total imports. Italy, Poland, Romania and Slovenia lagged somewhat behind, together comprising a further 25%.

Among the main suppliers, Poland, with a CAGR of +58.7%, saw 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

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, increasing by 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Italy ($X per ton), while the price for Slovenia ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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