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

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

The Brazilian market for crude sunflower-seed and safflower oil fell markedly to $X in 2022, with a decrease of -15% against the previous year. Over the period under review, consumption, however, continues to indicate a buoyant increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Crude Sunflower-Seed And Safflower Oil in Brazil

In value terms, crude sunflower-seed and safflower oil production contracted to $X in 2022 estimated in export price. Overall, production, however, showed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 663%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Brazil

In 2022, overseas shipments of crude sunflower-seed and safflower oil increased by 18% to X tons, rising for the fifth year in a row after two years of decline. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 11,035,524% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports soared to $X in 2022. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 3,119,421%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Panama (X tons), Marshall Islands (X tons) and Hong Kong SAR (X tons) were the main destinations of crude sunflower-seed and safflower oil exports from Brazil, together accounting for 52% of total exports. Singapore, Bahamas, Liberia, Greece, China, Malta, Norway, Japan and Barbados lagged somewhat behind, together accounting for a further 34%.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Barbados (with a CAGR of +1,446.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude sunflower-seed and safflower oil exported from Brazil were Marshall Islands ($X), Panama ($X) and Singapore ($X), together comprising 51% of total exports. Bahamas, Hong Kong SAR, Liberia, Norway, China, Barbados, Greece, Malta and Japan lagged somewhat behind, together accounting for a further 34%.

In terms of the main countries of destination, Barbados, with a CAGR of +2,774.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, growing by 37% against the previous year. Overall, the export price showed temperate growth. The pace of growth appeared the most rapid in 2017 an increase of 109% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 Norway ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Barbados (+85.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Brazil

In 2022, supplies from abroad of crude sunflower-seed and safflower oil decreased by -39% to X tons, falling for the second year in a row after two years of growth. In general, imports recorded a perceptible descent. The pace of growth appeared the most rapid in 2017 when imports increased by 54% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, crude sunflower-seed and safflower oil imports fell to $X in 2022. Overall, imports, however, saw a slight increase. The pace of growth was the most pronounced in 2020 when imports increased by 51%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Argentina (X tons) constituted the largest crude sunflower-seed and safflower oil supplier to Brazil, accounting for a 76% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Argentina exceeded the figures recorded by the second-largest supplier, Bolivia (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Argentina stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (+750.0% per year) and Uruguay (0.0% per year).

In value terms, Argentina ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to Brazil, comprising 77% of total imports. The second position in the ranking was held by Bolivia ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Argentina totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (+1,003.5% per year) and Uruguay (0.0% per year).

Import Prices by Country

The average import price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, jumping by 42% against the previous year. Overall, the import price enjoyed temperate growth. The pace of growth was the most pronounced in 2021 an increase of 45%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+29.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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