Eastern Europe: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Eastern Europe

For the third year in a row, the East European market for crude sunflower-seed and safflower oil recorded growth in sales value, which increased by 14% to $X in 2022. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +63.8% against 2015 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Production of Crude Sunflower-Seed And Safflower Oil in Eastern Europe

In value terms, crude sunflower-seed and safflower oil production rose significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports in Eastern Europe

Crude sunflower-seed and safflower oil exports amounted to X tons in 2022, increasing by 1.8% on 2021. Total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -20.2% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 31% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil exports rose modestly to $X in 2022. Overall, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Ukraine (X tons) represented the main exporter of crude sunflower-seed and safflower oil, mixing up 49% of total exports. Russia (X tons) took a 28% share (based on physical terms) of total exports, which put it in second place, followed by Bulgaria (10%). Hungary (X tons), Romania (X tons), Moldova (X tons) and Poland (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Poland (with a CAGR of +29.9%), while the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) remains the largest crude sunflower-seed and safflower oil supplier in Eastern Europe, comprising 47% of total exports. The second position in the ranking was held by Russia ($X), with a 22% share of total exports. It was followed by Bulgaria, with a 14% share.

In Ukraine, crude sunflower-seed and safflower oil exports increased at an average annual rate of +2.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (+5.0% per year) and Bulgaria (+29.7% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, surging by 2.6% against the previous year. Export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude sunflower-seed and safflower oil export price increased by +81.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 61%. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+4.9%), while the other leaders experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports in Eastern Europe

In 2022, crude sunflower-seed and safflower oil imports in Eastern Europe surged to X tons, growing by 345% on the year before. Overall, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil imports soared to $X in 2022. In general, imports recorded resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Poland (X tons) and Bulgaria (X tons) represented the main importers of crude sunflower-seed and safflower oil in Eastern Europe, together comprising 71% of total imports. It was distantly followed by Hungary (X tons), making up a 13% share of total imports. Romania (X tons), the Czech Republic (X tons), Moldova (X tons) and Lithuania (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Moldova (with a CAGR of +60.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Bulgaria ($X) and Hungary ($X) were the countries with the highest levels of imports in 2022, with a combined 83% share of total imports. Romania, the Czech Republic, Moldova and Lithuania lagged somewhat behind, together accounting for a further 14%.

In terms of the main importing countries, Moldova, with a CAGR of +64.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, rising by 8.4% against the previous year. Over the period under review, the import price, however, recorded a mild shrinkage. The pace of growth appeared the most rapid in 2021 when the import price increased by 63%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Czech Republic ($X per ton) and Romania ($X per ton), while Lithuania ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Moldova (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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