Austria: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Austria

The Austrian sunflower oilcake market rose remarkably to $X in 2021, picking up by 9.5% against the previous year. In general, consumption continues to indicate a buoyant expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Sunflower Oilcake Production in Austria

In value terms, sunflower oilcake production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production enjoyed a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 58% against the previous year. Sunflower oilcake production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Sunflower Oilcake Exports

Exports from Austria

In 2021, sunflower oilcake exports from Austria soared to X tons, jumping by 26% on 2020. Overall, total exports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.1% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 30% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, sunflower oilcake exports surged to $X in 2021. In general, exports showed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Hungary (X tons) and Italy (X tons) were the main destinations of sunflower oilcake exports from Austria, with a combined 64% share of total exports. These countries were followed by the Czech Republic, Switzerland, Slovakia and Slovenia, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +24.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for sunflower oilcake exports from Austria, comprising 38% of total exports. The second position in the ranking was held by Hungary ($X), with a 16% share of total exports. It was followed by Italy, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+18.5% per year) and Italy (+2.4% per year).

Export Prices by Country

In 2021, the average sunflower oilcake export price amounted to $X per ton, with an increase of 34% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sunflower oilcake export price increased by +99.2% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Oilcake Imports

Imports into Austria

In 2021, purchases abroad of sunflower oilcake was finally on the rise to reach X tons after two years of decline. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 42% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, sunflower oilcake imports soared to $X in 2021. Overall, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 35% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Hungary (X tons) constituted the largest supplier of sunflower oilcake to Austria, accounting for a 51% share of total imports. Moreover, sunflower oilcake imports from Hungary exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by Bulgaria (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Hungary totaled +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.5% per year) and Bulgaria (-1.9% per year).

In value terms, Hungary ($X) constituted the largest supplier of sunflower oilcake to Austria, comprising 43% of total imports. The second position in the ranking was held by Bulgaria ($X), with an 18% share of total imports. It was followed by Italy, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Hungary amounted to +30.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+0.5% per year) and Italy (+1.2% per year).

Import Prices by Country

The average sunflower oilcake import price stood at $X per ton in 2021, with an increase of 28% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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