Belarus: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Belarus

The Belarusian sunflower-seed and safflower oil market rose sharply to $X in 2022, with an increase of 13% against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +71.7% against 2018 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Production of Sunflower-Seed And Safflower Oil in Belarus

In value terms, sunflower-seed and safflower oil production contracted to $X in 2022 estimated in export price. Overall, production, however, showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 639%. Sunflower-seed and safflower oil production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Sunflower-Seed And Safflower Oil

Exports from Belarus

Sunflower-seed and safflower oil exports from Belarus soared to X tons in 2022, increasing by 47% compared with the previous year's figure. Overall, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 396%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, sunflower-seed and safflower oil exports skyrocketed to $X in 2022. Over the period under review, exports posted a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by 340% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Lithuania (X tons), Russia (X tons) and Kazakhstan (X tons) were the main destinations of sunflower-seed and safflower oil exports from Belarus, together accounting for 99% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +42.8%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) remains the key foreign market for sunflower-seed and safflower oil exports from Belarus, comprising 62% of total exports. The second position in the ranking was held by Russia ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Lithuania totaled +6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+42.5% per year) and Kazakhstan (+20.8% per year).

Export Prices by Country

In 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, with an increase of 7% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 +81.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 69%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Kazakhstan ($X per ton), while the average price for exports to Russia ($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 Kazakhstan (+10.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Sunflower-Seed And Safflower Oil

Imports into Belarus

In 2022, supplies from abroad of sunflower-seed and safflower oil increased by 30% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sunflower-seed and safflower oil imports surged to $X in 2022. In general, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.3% 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 +121.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 57%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Russia (X tons) constituted the largest sunflower-seed and safflower oil supplier to Belarus, with a 86% share of total imports. Moreover, sunflower-seed and safflower oil imports from Russia exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at +8.1%.

In value terms, Russia ($X) constituted the largest supplier of sunflower-seed and safflower oil to Belarus, comprising 89% of total imports. The second position in the ranking was taken by Ukraine ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Russia totaled +7.8%.

Import Prices by Country

In 2022, the average sunflower-seed and safflower oil import price amounted to $X per ton, dropping by -11.6% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 46%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Ukraine stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-0.2%).

Source: IndexBox Platform

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