CIS: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in CIS

In 2022, the CIS sunflower-seed and safflower oil market decreased by -9.2% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Production of Sunflower-Seed And Safflower Oil in CIS

In value terms, sunflower-seed and safflower oil production expanded to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Sunflower-Seed And Safflower Oil

Exports in CIS

Sunflower-seed and safflower oil exports skyrocketed to X tons in 2022, increasing by 26% on 2021 figures. Overall, exports enjoyed a prominent increase. The growth pace was the most rapid in 2019 when exports increased by 45%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil exports totaled $X in 2022. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 36% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

Russia prevails in exports structure, resulting at X tons, which was near 85% of total exports in 2022. Kazakhstan (X tons) took the second position in the ranking, followed by Moldova (X tons). All these countries together held near 14% share of total exports.

Exports from Russia increased at an average annual rate of +6.7% from 2012 to 2022. At the same time, Kazakhstan (+39.2%) and Moldova (+13.3%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +39.2% from 2012-2022. Kazakhstan (+6.6 p.p.) and Moldova (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -8.5% from 2012 to 2022, respectively.

In value terms, Russia ($X) remains the largest sunflower-seed and safflower oil supplier in the CIS, comprising 79% of total exports. The second position in the ranking was taken by Moldova ($X), with a 10% share of total exports.

In Russia, sunflower-seed and safflower oil exports increased at an average annual rate of +5.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Moldova (+16.4% per year) and Kazakhstan (+37.8% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, with a decrease of -16.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 66% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped remarkably 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 Sunflower-Seed And Safflower Oil

Imports in CIS

In 2022, sunflower-seed and safflower oil imports in the CIS was estimated at X tons, surging by 4.1% compared with the year before. Over the period under review, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 45%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil imports rose to $X in 2022. In general, imports recorded strong growth. The growth pace was the most rapid in 2017 when imports increased by 39% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of sunflower-seed and safflower oil imports in 2022 were Uzbekistan (X tons), Belarus (X tons) and Kazakhstan (X tons), together accounting for 65% of total import. It was distantly followed by Tajikistan (X tons), Azerbaijan (X tons), Moldova (X tons), Armenia (X tons) and Kyrgyzstan (X tons), together making up a 35% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Moldova (with a CAGR of +23.0%), 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 the CIS were Uzbekistan ($X), Belarus ($X) and Kazakhstan ($X), with a combined 64% share of total imports. Azerbaijan, Tajikistan, Moldova, Armenia and Kyrgyzstan lagged somewhat behind, together accounting for a further 36%.

Moldova, with a CAGR of +24.4%, 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

The import price in the CIS stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price continues to indicate slight growth. The most prominent rate of growth was recorded in 2021 an increase of 53% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Armenia ($X per ton) and Azerbaijan ($X per ton), while Tajikistan ($X per ton) and Belarus ($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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