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

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

In 2022, the Czech sunflower-seed and safflower oil market increased by 29% to $X, rising for the eighth consecutive year after two years of decline. Over the period under review, consumption posted a strong increase. Sunflower-seed and safflower oil consumption peaked in 2022 and is likely to see steady growth in the immediate term.

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

In value terms, sunflower-seed and safflower oil production surged to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a resilient increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of 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 sunflower-seed and safflower oil, when their volume increased by 29% to X tons. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 89%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, sunflower-seed and safflower oil exports surged to $X in 2022. Overall, exports showed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 78% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Poland (X tons) was the main destination for sunflower-seed and safflower oil exports from the Czech Republic, accounting for a 50% share of total exports. Moreover, sunflower-seed and safflower oil exports to Poland exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was held by Austria (X tons), with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume to Poland totaled +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+46.6% per year) and Austria (+23.5% per year).

In value terms, Poland ($X) remains the key foreign market for sunflower-seed and safflower oil exports from the Czech Republic, comprising 48% of total exports. The second position in the ranking was held by Germany ($X), with a 16% share of total exports. It was followed by Slovakia, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value to Poland stood at +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+50.8% per year) and Slovakia (-0.3% per year).

Export Prices by Country

The average sunflower-seed and safflower oil export price stood at $X per ton in 2022, surging by 19% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil export price increased by +81.5% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 33%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Slovakia ($X per ton) and Germany ($X per ton), while the average price for exports to Poland ($X per ton) and Austria ($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 Sunflower-Seed And Safflower Oil

Imports into the Czech Republic

In 2022, the amount of sunflower-seed and safflower oil imported into the Czech Republic soared to X tons, with an increase of 50% compared with 2021. Over the period under review, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sunflower-seed and safflower oil imports surged to $X in 2022. Overall, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Hungary (X tons) constituted the largest sunflower-seed and safflower oil supplier to the Czech Republic, accounting for a 50% share of total imports. Moreover, sunflower-seed and safflower oil imports from Hungary exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. Poland (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hungary stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+22.8% per year) and Poland (+33.1% per year).

In value terms, Hungary ($X) constituted the largest supplier of sunflower-seed and safflower oil to the Czech Republic, comprising 49% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 21% share of total imports. It was followed by Poland, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hungary totaled +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+25.6% per year) and Poland (+33.5% per year).

Import Prices by Country

The average sunflower-seed and safflower oil import price stood at $X per ton in 2022, increasing by 22% against the previous year. Overall, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil import price increased by +91.2% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 41%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Moldova ($X per ton), while the price for Austria ($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 (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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