Benelux: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Benelux

In 2022, the Benelux sunflower-seed and safflower oil market decreased by -20.4% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Sunflower-Seed And Safflower Oil in Benelux

In value terms, sunflower-seed and safflower oil production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 4.5%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Sunflower-Seed And Safflower Oil

Exports in Benelux

In 2022, the amount of sunflower-seed and safflower oil exported in Benelux was estimated at X tons, stabilizing at the year before. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -11.9% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 25%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, sunflower-seed and safflower oil exports surged to $X in 2022. Overall, exports showed a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 33% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

The Netherlands represented the key exporting country with an export of around X tons, which recorded 84% of total exports. It was distantly followed by Belgium (X tons), achieving a 16% share of total exports.

The Netherlands was also the fastest-growing in terms of the sunflower-seed and safflower oil exports, with a CAGR of +4.9% from 2012 to 2022. Belgium experienced a relatively flat trend pattern. The Netherlands (+5.9 p.p.) significantly strengthened its position in terms of the total exports, while Belgium saw its share reduced by -6% from 2012 to 2022, respectively.

In value terms, the Netherlands ($X) remains the largest sunflower-seed and safflower oil supplier in Benelux, comprising 82% of total exports. The second position in the ranking was taken by Belgium ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands stood at +6.3%.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, increasing by 25% against the previous year. Export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% 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 +72.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 31%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.3%).

Imports of Sunflower-Seed And Safflower Oil

Imports in Benelux

In 2022, purchases abroad of sunflower-seed and safflower oil decreased by -16.9% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -32.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 37%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil imports dropped to $X in 2022. Over the period under review, imports, however, recorded a notable expansion. The growth pace was the most rapid in 2020 when imports increased by 44%. Over the period under review, imports reached the maximum at $X in 2021, and then fell modestly in the following year.

Imports by Country

In 2022, the Netherlands (X tons) and Belgium (X tons) represented the main importer of sunflower-seed and safflower oil in Benelux, constituting 100% of total import.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +2.4%).

In value terms, the largest sunflower-seed and safflower oil importing markets in Benelux were the Netherlands ($X) and Belgium ($X).

Belgium, with a CAGR of +3.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, increasing by 20% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% 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 import price increased by +91.2% against 2019 indices. The growth pace was the most rapid in 2021 when the import price increased by 52%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.3%).

Source: IndexBox Platform