Ecuador: Market for Crude Sunflower-Seed And Safflower Oil 2025

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

In 2022, after two years of growth, there was significant decline in the Ecuadorian market for crude sunflower-seed and safflower oil, when its value decreased by -30.5% to $X. In general, consumption, however, posted a strong expansion. As a result, consumption reached the peak level of $X, and then declined remarkably in the following year.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Ecuador

In 2022, after seven years of decline, there was growth in overseas shipments of crude sunflower-seed and safflower oil, when their volume increased by 2.2% to X tons. In general, exports, however, continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2014 with an increase of 36% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, crude sunflower-seed and safflower oil exports contracted to $X in 2022. Overall, exports, however, faced a sharp contraction. The pace of growth appeared the most rapid in 2014 when exports increased by 92%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for crude sunflower-seed and safflower oil exports from Ecuador, with a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -37.8%.

In value terms, the United States ($X) also remains the key foreign market for crude sunflower-seed and safflower oil exports from Ecuador.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -31.7%.

Export Prices by Country

The average export price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, shrinking by -2.9% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.9% 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 +4.9% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of 41% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then fell slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +9.9% per year.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Ecuador

In 2022, purchases abroad of crude sunflower-seed and safflower oil decreased by -26.9% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 116%. As a result, imports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, crude sunflower-seed and safflower oil imports shrank notably to $X in 2022. Overall, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 199%. As a result, imports reached the peak of $X, and then reduced sharply in the following year.

Imports by Country

Bolivia (X tons), Peru (X tons) and Argentina (X tons) were the main suppliers of crude sunflower-seed and safflower oil imports to Ecuador, with a combined 98% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +33.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Bolivia ($X) and Argentina ($X) appeared to be the largest crude sunflower-seed and safflower oil suppliers to Ecuador, together accounting for 98% of total imports.

In terms of the main suppliers, Bolivia, with a CAGR of +26.3%, recorded the highest rates of growth with regard to 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 average import price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, shrinking by -8.7% against the previous year. Over the period under review, the import price recorded a slight setback. The growth pace was the most rapid in 2021 when the average import price increased by 38%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Peru ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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