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

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

After two years of growth, the CIS market for crude sunflower-seed and safflower oil decreased by -5.4% to $X in 2022. The market value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then shrank in the following year.

Production of Crude Sunflower-Seed And Safflower Oil in CIS

In value terms, crude sunflower-seed and safflower oil production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 18% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports in CIS

Crude sunflower-seed and safflower oil exports surged to X tons in 2022, picking up by 25% against the previous year's figure. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 53% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports rose slightly to $X in 2022. Over the period under review, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2019 when exports increased by 44%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Russia dominates exports structure, accounting for X tons, which was approx. 84% of total exports in 2022. Moldova (X tons) held the second position in the ranking, followed by Kazakhstan (X tons). All these countries together took near 15% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to crude sunflower-seed and safflower oil exports from Russia stood at +6.3%. At the same time, Kazakhstan (+66.5%) and Moldova (+14.2%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +66.5% from 2012-2022. Kazakhstan (+7.1 p.p.) and Moldova (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -10.8% from 2012 to 2022, respectively.

In value terms, Russia ($X) remains the largest crude sunflower-seed and safflower oil supplier in the CIS, comprising 78% of total exports. The second position in the ranking was held by Moldova ($X), with a 12% share of total exports.

In Russia, crude sunflower-seed and safflower oil exports expanded at an average annual rate of +5.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Moldova (+17.3% per year) and Kazakhstan (+65.7% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, declining by -16.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 70% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped dramatically in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Moldova ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Moldova (+2.7%), while the other leaders experienced a decline in the export price figures.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports in CIS

Crude sunflower-seed and safflower oil imports soared to X tons in 2022, picking up by 24% on the previous year's figure. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.0% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 68% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, crude sunflower-seed and safflower oil imports surged to $X in 2022. Overall, imports posted resilient growth. The growth pace was the most rapid in 2016 with an increase of 74% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Kazakhstan (X tons) and Uzbekistan (X tons) represented the key importers of crude sunflower-seed and safflower oil in the CIS, together finishing at near 50% of total imports. Azerbaijan (X tons) held the next position in the ranking, followed by Tajikistan (X tons), Moldova (X tons) and Belarus (X tons). All these countries together held near 45% share of total imports. Armenia (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 key importing countries, was attained by Uzbekistan (with a CAGR of +171.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Uzbekistan ($X) and Azerbaijan ($X) were the countries with the highest levels of imports in 2022, with a combined 67% share of total imports.

Uzbekistan, with a CAGR of +201.1%, saw the highest growth rate of the value of imports, among 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 the CIS amounted to $X per ton, surging by 14% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price 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, crude sunflower-seed and safflower oil import price increased by +91.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 53%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Armenia ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+11.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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