Austria: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Austria

The Austrian sunflower-seed and safflower oil market expanded slightly to $X in 2022, rising by 2.6% against the previous year. In general, consumption, however, continues to indicate a strong expansion. Sunflower-seed and safflower oil consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Sunflower-Seed And Safflower Oil in Austria

In value terms, sunflower-seed and safflower oil production declined notably to $X in 2022 estimated in export price. Overall, production, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 872%. As a result, production reached the peak level of $X, and then declined rapidly in the following year.

Exports of Sunflower-Seed And Safflower Oil

Exports from Austria

In 2022, the amount of sunflower-seed and safflower oil exported from Austria soared to X tons, picking up by 18% compared with the year before. In general, total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.0% against 2020 indices. The pace of growth was the most pronounced in 2018 when exports increased by 31% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, sunflower-seed and safflower oil exports soared to $X in 2022. Overall, exports showed pronounced growth. The pace of growth was the most pronounced in 2021 with an increase of 57% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for sunflower-seed and safflower oil exports from Austria, with a 54% share of total exports. Moreover, sunflower-seed and safflower oil exports to Germany exceeded the volume sent to the second major destination, Switzerland (X tons), eightfold. The Czech Republic (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+0.5% per year) and the Czech Republic (+4.7% per year).

In value terms, Germany ($X) remains the key foreign market for sunflower-seed and safflower oil exports from Austria, comprising 58% of total exports. The second position in the ranking was held by Switzerland ($X), with a 5.6% share of total exports. It was followed by the Czech Republic, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+1.2% per year) and the Czech Republic (+5.5% per year).

Export Prices by Country

The average sunflower-seed and safflower oil export price stood at $X per ton in 2022, surging by 26% against the previous year. In general, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil export price increased by +73.0% against 2019 indices. 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 for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Czech Republic ($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 Slovenia (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Austria

In 2022, supplies from abroad of sunflower-seed and safflower oil decreased by -13.7% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, continue to indicate a pronounced expansion. The growth pace was the most rapid in 2018 when imports increased by 42% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, sunflower-seed and safflower oil imports soared to $X in 2022. In general, imports, however, posted a measured expansion. The growth pace was the most rapid in 2021 with an increase of 79%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Hungary (X tons) constituted the largest sunflower-seed and safflower oil supplier to Austria, with a 35% share of total imports. Moreover, sunflower-seed and safflower oil imports from Hungary exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. The third position in this ranking was held by Bosnia and Herzegovina (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Hungary totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+17.1% per year) and Bosnia and Herzegovina (+9.1% per year).

In value terms, Hungary ($X) constituted the largest supplier of sunflower-seed and safflower oil to Austria, comprising 30% of total imports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with a 15% share of total imports. It was followed by Ukraine, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hungary amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Bosnia and Herzegovina (+12.7% per year) and Ukraine (+18.9% per year).

Import Prices by Country

The average sunflower-seed and safflower oil import price stood at $X per ton in 2022, rising by 36% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil import price increased by +80.8% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :