Czech Republic: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in the Czech Republic

After seven years of growth, the Czech market for crude sunflower-seed and safflower oil decreased by -6.8% to $X in 2022. Over the period under review, consumption, however, continues to indicate pronounced growth. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank in the following year.

Production of Crude Sunflower-Seed And Safflower Oil in the Czech Republic

In value terms, crude sunflower-seed and safflower oil production contracted modestly to $X in 2022 estimated in export price. In general, production, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 46% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from the Czech Republic

In 2022, after two years of decline, there was significant growth in overseas shipments of crude sunflower-seed and safflower oil, when their volume increased by 50% to X tons. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 1,196%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil exports surged to $X in 2022. In general, exports saw a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 910% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Poland (X tons) was the main destination for crude sunflower-seed and safflower oil exports from the Czech Republic, with a 46% share of total exports. Moreover, crude sunflower-seed and safflower oil exports to Poland exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Poland stood at +102.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+26.1% per year) and Germany (+160.5% per year).

In value terms, Poland ($X) remains the key foreign market for crude sunflower-seed and safflower oil exports from the Czech Republic, comprising 43% of total exports. The second position in the ranking was held by Germany ($X), with a 16% share of total exports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland totaled +108.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+166.3% per year) and the Netherlands (+30.5% per year).

Export Prices by Country

In 2022, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, increasing by 19% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 52% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Estonia ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into the Czech Republic

In 2022, imports of crude sunflower-seed and safflower oil into the Czech Republic skyrocketed to X tons, jumping by 48% against the previous year's figure. Over the period under review, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 77%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, crude sunflower-seed and safflower oil imports skyrocketed to $X in 2022. Overall, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2021 with an increase of 76%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Hungary (X tons) constituted the largest crude sunflower-seed and safflower oil supplier to the Czech Republic, accounting for a 46% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Hungary exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was taken by Ukraine (X tons), with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hungary amounted to +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+64.0% per year) and Ukraine (+35.3% per year).

In value terms, Hungary ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to the Czech Republic, comprising 48% of total imports. The second position in the ranking was held by Poland ($X), with a 19% share of total imports. It was followed by Ukraine, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Hungary stood at +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+67.2% per year) and Ukraine (+33.2% per year).

Import Prices by Country

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, picking up by 14% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 +99.7% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 41% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Serbia ($X per ton) and Slovakia ($X per ton), while the price for Ukraine ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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