Canada: Safflower Seed Market 2025

Safflower Seed Market Size in Canada

The Canadian safflower seed market rose remarkably to $X in 2022, picking up by 8.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a strong expansion. Safflower seed consumption peaked in 2022 and is likely to continue growth in the immediate term.

Safflower Seed Exports

Exports from Canada

In 2022, the amount of safflower seed exported from Canada declined notably to X tons, with a decrease of -21.4% on 2021. In general, exports, however, recorded buoyant growth. The growth pace was the most rapid in 2021 when exports increased by 85% against the previous year. As a result, the exports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, safflower seed exports surged to $X in 2022. Over the period under review, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 158% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for safflower seed exports from Canada, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +7.5%.

In value terms, the United States ($X) also remains the key foreign market for safflower seed exports from Canada.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +11.9%.

Export Prices by Country

The average safflower seed export price stood at $X per ton in 2022, picking up by 62% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, safflower seed export price increased by +43.3% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +4.0% per year.

Safflower Seed Imports

Imports into Canada

In 2022, supplies from abroad of safflower seed decreased by -11.9% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 59%. Over the period under review, imports attained the maximum at X tons in 2021, and then declined in the following year.

In value terms, safflower seed imports expanded markedly to $X in 2022. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by 50% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

The United States (X tons), Bulgaria (X tons) and Russia (X tons) were the main suppliers of safflower seed imports to Canada, with a combined 97% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +128.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Bulgaria ($X) and Russia ($X) appeared to be the largest safflower seed suppliers to Canada, with a combined 96% share of total imports. These countries were followed by Turkey, which accounted for a further 2.9%.

Among the main suppliers, Turkey, with a CAGR of +309.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average safflower seed import price stood at $X per ton in 2022, jumping by 27% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Bulgaria ($X per ton) and Turkey ($X per ton), while the price for the United States ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+91.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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