Report Update Nov 1, 2024

Colombia - Sunflower-Seed and Safflower Oil - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Colombia

In 2022, after two years of growth, there was significant decline in the Colombian sunflower-seed and safflower oil market, when its value decreased by -19.3% to $X. Over the period under review, consumption continues to indicate a slight shrinkage. As a result, consumption attained the peak level of $X, and then declined dramatically in the following year.

Exports of Sunflower-Seed And Safflower Oil

Exports from Colombia

In 2022, the amount of sunflower-seed and safflower oil exported from Colombia soared to X tons, picking up by 19% on the previous year's figure. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 87%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, sunflower-seed and safflower oil exports soared to $X in 2022. Over the period under review, exports saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 149% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X tons), Australia (X tons) and Ecuador (X tons) were the main destinations of sunflower-seed and safflower oil exports from Colombia, with a combined 97% share of total exports. These countries were followed by the Netherlands, which accounted for a further 2.4%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +202.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sunflower-seed and safflower oil exported from Colombia were Panama ($X), Australia ($X) and Ecuador ($X), together comprising 95% of total exports. The Netherlands lagged somewhat behind, accounting for a further 2.5%.

The Netherlands, with a CAGR of +225.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sunflower-seed and safflower oil export price stood at $X per ton in 2022, growing by 5.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2019 an increase of 33% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Colombia

In 2022, after two years of growth, there was significant decline in purchases abroad of sunflower-seed and safflower oil, when their volume decreased by -9% to X tons. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 26% against the previous year. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, sunflower-seed and safflower oil imports shrank dramatically to $X in 2022. In general, imports recorded a noticeable shrinkage. The growth pace was the most rapid in 2021 with an increase of 86% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

Argentina (X tons), Bolivia (X tons) and Ecuador (X tons) were the main suppliers of sunflower-seed and safflower oil imports to Colombia, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +61.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest sunflower-seed and safflower oil suppliers to Colombia were Argentina ($X), Bolivia ($X) and Ecuador ($X), with a combined 98% share of total imports.

In terms of the main suppliers, Ecuador, with a CAGR of +60.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average sunflower-seed and safflower oil import price amounted to $X per ton, waning by -15.4% against the previous year. Overall, the import price saw a pronounced shrinkage. The pace of growth was the most pronounced in 2021 an increase of 52% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sunflower-seed and safflower oil in the world?

The countries with the highest volumes of in 2021 were Russia, India and Ukraine, together comprising 33% of global consumption.

What are the largest producers of sunflower-seed and safflower oil in the world?

The countries with the highest volumes of in 2021 were Ukraine, Russia and Argentina, together accounting for 65% of global production. These countries were followed by Turkey, Hungary, Bulgaria, Romania, France, Spain and Kazakhstan, which together accounted for a further 20%.

What are the leading suppliers of sunflower-seed and safflower oil to Colombia?

In value terms, Bolivia constituted the largest supplier of sunflower-seed and safflower oil to Colombia, comprising 78% of total imports. The second position in the ranking was occupied by Argentina, with an 11% share of total imports.

What are the leading importers of sunflower-seed and safflower oil from Colombia?

In value terms, Peru $835) remains the key foreign market for sunflower-seed and safflower oil exports from Colombia, comprising 99% of total exports. The second position in the ranking was occupied by Aruba $12), with a 1.4% share of total exports.

What is the average export price for sunflower-seed and safflower oil in Colombia?

In 2021, the average sunflower-seed and safflower oil export price amounted to $4,053 per ton, rising by 68% against the previous year.

What is the average import price for sunflower-seed and safflower oil in Colombia?

The average sunflower-seed and safflower oil import price stood at $1,400 per ton in 2021, increasing by 52% against the previous year.

This report provides an in-depth analysis of the market for sunflower-seed and safflower oil in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 268 - Oil of Sunflower Seed
FCL 281 - Oil of Safflower Seed

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023