Central Asia: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Central Asia

In 2022, after seven years of growth, there was significant decline in the Central Asian sunflower-seed and safflower oil market, when its value decreased by -20.6% to $X. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then declined sharply in the following year.

Production of Sunflower-Seed And Safflower Oil in Central Asia

In value terms, sunflower-seed and safflower oil production expanded modestly to $X in 2022 estimated in export price. Overall, production, however, showed a slight decrease. The pace of growth was the most pronounced in 2019 with an increase of 18% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Sunflower-Seed And Safflower Oil

Exports in Central Asia

In 2022, sunflower-seed and safflower oil exports in Central Asia soared to X tons, surging by 176% against the year before. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2017 when exports increased by 178%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, sunflower-seed and safflower oil exports skyrocketed to $X in 2022. Overall, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Kazakhstan dominates exports structure, recording X tons, which was approx. 96% of total exports in 2022. Uzbekistan (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to sunflower-seed and safflower oil exports from Kazakhstan stood at +39.2%. At the same time, Uzbekistan (+132.0%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +132.0% from 2012-2022. From 2012 to 2022, the share of Uzbekistan increased by +3.8 percentage points.

In value terms, Kazakhstan ($X) remains the largest sunflower-seed and safflower oil supplier in Central Asia, comprising 95% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 4.5% share of total exports.

In Kazakhstan, sunflower-seed and safflower oil exports expanded at an average annual rate of +37.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, picking up by 19% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 47% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+27.9%).

Imports of Sunflower-Seed And Safflower Oil

Imports in Central Asia

In 2022, purchases abroad of sunflower-seed and safflower oil decreased by -4.3% to X tons, falling for the second year in a row after seven years of growth. In general, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by 55%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, sunflower-seed and safflower oil imports dropped to $X in 2022. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 49%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

Uzbekistan was the major importing country with an import of around X tons, which reached 41% of total imports. It was distantly followed by Kazakhstan (X tons), Tajikistan (X tons), Kyrgyzstan (X tons) and Turkmenistan (X tons), together constituting a 56% share of total imports. Mongolia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Tajikistan (with a CAGR of +16.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sunflower-seed and safflower oil importing markets in Central Asia were Uzbekistan ($X), Kazakhstan ($X) and Tajikistan ($X), together comprising 83% of total imports.

Uzbekistan, with a CAGR of +20.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, shrinking by -2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 52% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank slightly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Uzbekistan ($X per ton) and Kyrgyzstan ($X per ton), while Tajikistan ($X per ton) and Mongolia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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