Croatia: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Croatia

The Croatian sunflower oilcake market skyrocketed to $X in 2021, increasing by 20% against the previous year. Overall, consumption recorded a mild expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sunflower Oilcake Production in Croatia

In value terms, sunflower oilcake production skyrocketed to $X in 2021 estimated in export price. In general, production posted strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 158%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Sunflower Oilcake Exports

Exports from Croatia

Sunflower oilcake exports from Croatia fell dramatically to X tons in 2021, which is down by -40.9% against the year before. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 297%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, sunflower oilcake exports declined notably to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 189%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X tons), Slovenia (X tons) and Hungary (X tons) were the main destinations of sunflower oilcake exports from Croatia, together comprising 94% of total exports.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of -1.4%), while shipments for the other leaders experienced a decline.

In value terms, Italy ($X), Slovenia ($X) and Bosnia and Herzegovina ($X) were the largest markets for sunflower oilcake exported from Croatia worldwide, together comprising 94% of total exports.

Italy, with a CAGR of +1.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average sunflower oilcake export price stood at $X per ton in 2021, picking up by 5.8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were Bosnia and Herzegovina ($X per ton) and Slovenia ($X per ton), while the average price for exports to Hungary ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Oilcake Imports

Imports into Croatia

In 2021, supplies from abroad of sunflower oilcake decreased by -5.1% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, imports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 15%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, sunflower oilcake imports surged to $X in 2021. Overall, imports showed a perceptible descent. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Hungary (X tons) constituted the largest sunflower oilcake supplier to Croatia, with a 84% share of total imports. Moreover, sunflower oilcake imports from Hungary exceeded the figures recorded by the second-largest supplier, Austria (X tons), more than tenfold. Serbia (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume from Hungary totaled +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+48.6% per year) and Serbia (-26.3% per year).

In value terms, Hungary ($X) constituted the largest supplier of sunflower oilcake to Croatia, comprising 83% of total imports. The second position in the ranking was taken by Serbia ($X), with a 6.4% share of total imports. It was followed by Austria, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value from Hungary amounted to +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Serbia (-25.9% per year) and Austria (+45.4% per year).

Import Prices by Country

The average sunflower oilcake import price stood at $X per ton in 2021, surging by 27% against the previous year. In general, the import price, however, recorded a slight decrease. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Serbia ($X per ton) and Austria ($X per ton), while the price for Italy ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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