Denmark: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Denmark

In 2022, the Danish market for crude sunflower-seed and safflower oil decreased by -46.2% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, showed notable growth. Over the period under review, the market reached the maximum level at $X in 2021, and then fell significantly in the following year.

Production of Crude Sunflower-Seed And Safflower Oil in Denmark

In value terms, crude sunflower-seed and safflower oil production surged to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 55% against the previous year. Crude sunflower-seed and safflower oil production peaked in 2022 and is expected to retain growth in years to come.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Denmark

In 2022, shipments abroad of crude sunflower-seed and safflower oil decreased by -35.9% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 505% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports dropped to $X in 2022. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 340% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for crude sunflower-seed and safflower oil exports from Denmark, with a 55% share of total exports. Moreover, crude sunflower-seed and safflower oil exports to the Netherlands exceeded the volume sent to the second major destination, Finland (X tons), fourfold. The third position in this ranking was held by Thailand (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands totaled -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+33.1% per year) and Thailand (0.0% per year).

In value terms, the Netherlands ($X), Italy ($X) and Finland ($X) were the largest markets for crude sunflower-seed and safflower oil exported from Denmark worldwide, together accounting for 77% of total exports.

Among the main countries of destination, Italy, with a CAGR of +161.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, rising by 50% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Italy ($X per ton), while the average price for exports to the Netherlands ($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 Finland (+7.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Denmark

Crude sunflower-seed and safflower oil imports into Denmark fell significantly to X tons in 2022, shrinking by -50.5% on the previous year. In general, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 397%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil imports dropped rapidly to $X in 2022. Over the period under review, imports, however, showed a measured expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 308%. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped notably in the following year.

Imports by Country

Ukraine (X tons), Hungary (X tons) and Germany (X tons) were the main suppliers of crude sunflower-seed and safflower oil imports to Denmark, with a combined 91% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +186.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Ukraine ($X) and Germany ($X) appeared to be the largest crude sunflower-seed and safflower oil suppliers to Denmark, together comprising 85% of total imports.

Hungary, with a CAGR of +176.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, growing by 7.6% against the previous year. Overall, the import price, however, showed a slight downturn. The growth pace was the most rapid in 2021 when the average import price increased by 41% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Italy ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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