Eastern Asia: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2025

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Eastern Asia

In 2021, the East Asian market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -1.6% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +70.8% against 2015 indices. The level of consumption peaked at $X in 2020, and then contracted slightly in the following year.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Eastern Asia

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified declined to $X in 2021 estimated in export price. The total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +70.7% against 2015 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 37% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production of growth remained at a somewhat lower figure.

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

Exports in Eastern Asia

In 2021, the amount of sunflower-seed or safflower oil, refined, but not chemically modified exported in Eastern Asia dropped to X tons, waning by -13.1% on the previous year. Over the period under review, exports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 91% against the previous year. The volume of export peaked at X tons in 2020, and then contracted in the following year.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified dropped to $X in 2021. Overall, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2020 when exports increased by 84% against the previous year. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

In 2021, China (X tons) was the key exporter of sunflower-seed or safflower oil, refined, but not chemically modified, making up 59% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), mixing up a 37% share of total exports. Japan (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +28.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X) remains the largest sunflower-seed or safflower oil, refined, but not chemically modified supplier in Eastern Asia, comprising 64% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 31% share of total exports.

In China, exports of sunflower-seed or safflower oil, refined, but not chemically modified expanded at an average annual rate of +25.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+6.4% per year) and Japan (-6.6% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 15% against the previous year. Overall, the export price, however, showed a perceptible reduction. The growth pace was the most rapid in 2019 an increase of 27%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.8%), while the other leaders experienced a decline in the export price figures.

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

Imports in Eastern Asia

After two years of growth, supplies from abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -16.9% to X tons in 2021. Overall, imports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2015 when imports increased by 60% against the previous year. The volume of import peaked at X tons in 2020, and then reduced remarkably in the following year.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X in 2021. In general, imports, however, recorded a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 35% against the previous year. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) was the key importer of sunflower-seed or safflower oil, refined, but not chemically modified, making up 58% of total imports. China (X tons) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by Japan (9.7%) and Taiwan (Chinese) (8.2%).

Imports into South Korea increased at an average annual rate of +9.6% from 2012 to 2021. At the same time, Taiwan (Chinese) (+26.8%), China (+26.8%) and Japan (+2.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +26.8% from 2012-2021. From 2012 to 2021, the share of China and Taiwan (Chinese) increased by +16 and +5.7 percentage points, respectively.

In value terms, South Korea ($X) constitutes the largest market for imported sunflower-seed or safflower oil, refined, but not chemically modified in Eastern Asia, comprising 57% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Japan, with a 10% share.

In South Korea, imports of sunflower-seed or safflower oil, refined, but not chemically modified expanded at an average annual rate of +8.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (+20.0% per year) and Japan (+0.7% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 31% against the previous year. In general, the import price, however, continues to indicate a slight descent. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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