Brazil: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Brazil

The Brazilian market for sunflower-seed or safflower oil, refined, but not chemically modified expanded remarkably to $X in 2021, picking up by 5.7% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Brazil

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified totaled $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 26%. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Exports from Brazil

In 2021, overseas shipments of sunflower-seed or safflower oil, refined, but not chemically modified increased by 82% to X tons, rising for the third year in a row after three years of decline. Over the period under review, exports, however, showed a perceptible descent. The pace of growth was the most pronounced in 2020 when exports increased by 129% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. Overall, exports, however, showed a noticeable contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X tons), Peru (X tons) and Paraguay (X tons) were the main destinations of exports of sunflower-seed or safflower oil, refined, but not chemically modified from Brazil, together accounting for 81% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Venezuela (with a CAGR of +1,395,045.5%), while the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X) emerged as the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Brazil, comprising 43% of total exports. The second position in the ranking was taken by Peru ($X), with a 19% share of total exports. It was followed by Paraguay, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela totaled +1,868,823.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+10.8% per year) and Paraguay (+9.1% per year).

Export Prices by Country

In 2021, the average export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, increasing by 62% against the previous year. Overall, the export price recorded a relatively flat trend pattern. 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 overseas markets. In 2021, the country with the highest price was Marshall Islands ($X per ton), while the average price for exports to Paraguay ($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 Venezuela (+39.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Imports into Brazil

In 2021, supplies from abroad of sunflower-seed or safflower oil, refined, but not chemically modified increased by 166% to X tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 276%. Over the period under review, imports of reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2021. In general, imports saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 157% against the previous year. Over the period under review, imports of attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Bolivia (X tons), Argentina (X tons) and Uruguay (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to Brazil, with a combined 86% share of total imports.

From 2012 to 2021, the biggest increases were in Bolivia (with a CAGR of +1,321.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to Brazil were Argentina ($X), Bolivia ($X) and Uruguay ($X), together comprising 79% of total imports.

Bolivia, with a CAGR of +1,628.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, reducing by -6.5% against the previous year. Over the period under review, the import price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2018 an increase of 25% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+49.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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