Denmark: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Denmark

For the third year in a row, the Danish sunflower oilcake market recorded decline in sales value, which decreased by -15.3% to $X in 2021. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sunflower Oilcake Exports

Exports from Denmark

For the fifth consecutive year, Denmark recorded growth in overseas shipments of sunflower oilcake, which increased by 136% to X tons in 2021. In general, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 177%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, sunflower oilcake exports surged to $X in 2021. Over the period under review, exports continue to indicate a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for sunflower oilcake exports from Denmark, with a 63% share of total exports. Moreover, sunflower oilcake exports to Germany exceeded the volume sent to the second major destination, Sweden (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+35.9% per year) and the Netherlands (+73.9% per year).

In value terms, Germany ($X) remains the key foreign market for sunflower oilcake exports from Denmark, comprising 60% of total exports. The second position in the ranking was held by Sweden ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+31.3% per year) and the Netherlands (+73.6% per year).

Export Prices by Country

The average sunflower oilcake export price stood at $X per ton in 2021, with an increase of 32% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 37%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was Sweden ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Sunflower Oilcake Imports

Imports into Denmark

In 2021, imports of sunflower oilcake into Denmark declined remarkably to X tons, dropping by -16.3% on the previous year's figure. In general, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 12% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, sunflower oilcake imports rose rapidly to $X in 2021. Over the period under review, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of 13% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of sunflower oilcake to Denmark, accounting for a 62% share of total imports. Moreover, sunflower oilcake imports from Russia exceeded the figures recorded by the second-largest supplier, Estonia (X tons), fourfold. The third position in this ranking was held by Argentina (X tons), with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (-3.6% per year) and Argentina (+11.9% per year).

In value terms, Russia ($X) constituted the largest supplier of sunflower oilcake to Denmark, comprising 66% of total imports. The second position in the ranking was held by Argentina ($X), with a 12% share of total imports. It was followed by Germany, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+16.4% per year) and Germany (-4.5% per year).

Import Prices by Country

The average sunflower oilcake import price stood at $X per ton in 2021, rising by 26% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Ukraine ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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