Czech Republic: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in the Czech Republic

In 2021, the Czech market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -63.7% to $X for the first time since 2013, thus ending a seven-year rising trend. Over the period under review, consumption showed a perceptible downturn. Over the period under review, the market hit record highs at $X in 2020, and then reduced sharply in the following year.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in the Czech Republic

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified reduced dramatically to $X in 2021 estimated in export price. In general, production showed a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 77%. Production of peaked at $X in 2020, and then fell sharply in the following year.

Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Exports from the Czech Republic

In 2021, after four years of growth, there was decline in shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume decreased by -2.5% to X tons. Overall, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 53% against the previous year. The exports peaked at X tons in 2020, and then fell in the following year.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2021. In general, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 62%. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Poland (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from the Czech Republic, accounting for a 43% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Poland exceeded the volume sent to the second major destination, Germany (X tons), threefold. Austria (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Poland amounted to +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+40.2% per year) and Austria (+24.9% per year).

In value terms, Poland ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from the Czech Republic, comprising 43% of total exports. The second position in the ranking was taken by Germany ($X), with a 12% share of total exports. It was followed by Austria, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Poland totaled +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+39.0% per year) and Austria (+24.0% per year).

Export Prices by Country

The average export price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, picking up by 22% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; afterwards, it flattened through to 2021.

Average prices varied somewhat for the major foreign markets. In 2021, the highest price was recorded for prices to Slovakia ($X per ton) and Hungary ($X per ton), while the average price for exports to Germany ($X per ton) and Austria ($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 Belgium (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Imports into the Czech Republic

After two years of growth, overseas purchases of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -4.8% to X tons in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when imports increased by 26% against the previous year. Over the period under review, imports of hit record highs at X tons in 2020, and then dropped slightly in the following year.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2021. In general, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.9% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Hungary (X tons) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to the Czech Republic, with a 56% share of total imports. Moreover, imports of sunflower-seed or safflower oil, refined, but not chemically modified from Hungary exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Ukraine (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from Hungary totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.4% per year) and Ukraine (+6.8% per year).

In value terms, Hungary ($X) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to the Czech Republic, comprising 55% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by Ukraine, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value from Hungary stood at +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.8% per year) and Ukraine (+7.2% per year).

Import Prices by Country

The average import price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, surging by 40% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Slovakia ($X per ton) and Romania ($X per ton), while the price for Austria ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+24.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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