Denmark: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Denmark

The Danish sunflower-seed and safflower oil market stood at $X in 2022, with an increase of 3.5% against the previous year. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +87.6% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Sunflower-Seed And Safflower Oil in Denmark

In value terms, sunflower-seed and safflower oil production soared to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +83.0% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 46% against the previous year. Over the period under review, production attained the peak level in 2022 and is expected to retain growth in years to come.

Exports of Sunflower-Seed And Safflower Oil

Exports from Denmark

In 2022, overseas shipments of sunflower-seed and safflower oil decreased by -29.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 97%. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined dramatically in the following year.

In value terms, sunflower-seed and safflower oil exports amounted to $X in 2022. Overall, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 59% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The Netherlands (X tons), Iceland (X tons) and Faroe Islands (X tons) were the main destinations of sunflower-seed and safflower oil exports from Denmark, together comprising 59% of total exports. Greenland, Finland, Thailand, Italy and Sweden lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +188.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sunflower-seed and safflower oil exported from Denmark were Iceland ($X), the Netherlands ($X) and Italy ($X), together accounting for 52% of total exports.

Among the main countries of destination, Italy, with a CAGR of +161.1%, recorded the highest rates of growth with regard to 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

In 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, picking up by 42% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 Sweden (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Denmark

In 2022, imports of sunflower-seed and safflower oil into Denmark reduced to X tons, which is down by -10% compared with the previous year. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 46%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, sunflower-seed and safflower oil imports rose sharply to $X in 2022. In general, total imports indicated notable growth from 2012 to 2022: its value 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, imports increased by +115.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 52% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest sunflower-seed and safflower oil supplier to Denmark, with a 35% share of total imports. Moreover, sunflower-seed and safflower oil imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was taken by Ukraine (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+64.6% per year) and Ukraine (+66.9% per year).

In value terms, Germany ($X) constituted the largest supplier of sunflower-seed and safflower oil to Denmark, comprising 38% of total imports. The second position in the ranking was held by Spain ($X), with a 13% share of total imports. It was followed by Belgium, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+59.8% per year) and Belgium (+9.8% per year).

Import Prices by Country

In 2022, the average sunflower-seed and safflower oil import price amounted to $X per ton, growing by 19% against the previous year. Overall, the import price recorded a slight expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain 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 France ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :