Egypt: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024

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

In 2021, the Egyptian market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -6.9% to $X for the first time since 2014, thus ending a six-year rising trend. The market value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank in the following year.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when the production volume increased by 15%. Over the period under review, production of hit record highs at $X in 2020, and then fell in the following year.

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

Exports from Egypt

In 2021, shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified increased by 103% to X tons, rising for the second year in a row after three years of decline. Overall, exports recorded a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2021. In general, exports recorded perceptible growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Rwanda (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Egypt, accounting for a 28% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Rwanda exceeded the volume sent to the second major destination, Eritrea (X tons), threefold. The third position in this ranking was taken by Oman (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Rwanda totaled +126.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Eritrea (+21.1% per year) and Oman (+252.8% per year).

In value terms, Rwanda ($X) emerged as the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Egypt, comprising 29% of total exports. The second position in the ranking was taken by Oman ($X), with a 10% share of total exports. It was followed by Madagascar, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to Rwanda stood at +134.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+315.6% per year) and Madagascar (+1,590.2% per year).

Export Prices by Country

The average export price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, with an increase of 44% against the previous year. Overall, the export price, however, saw a slight decrease. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, the highest price was recorded for prices to Oman ($X per ton) and Madagascar ($X per ton), while the average price for exports to Eritrea ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Madagascar (+47.8%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Egypt

In 2021, the amount of sunflower-seed or safflower oil, refined, but not chemically modified imported into Egypt contracted significantly to X tons, dropping by -28.5% against the previous year's figure. In general, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 1,476%. Over the period under review, imports of attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified contracted slightly to $X in 2021. Overall, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 430% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

In 2021, Ukraine (X tons) was the main supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Egypt, with a 91% share of total imports. It was followed by Turkey (X tons), with a 2.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ukraine amounted to +57.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-20.5% per year) and Spain (+44.1% per year).

In value terms, Ukraine ($X) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Egypt, comprising 92% of total imports. The second position in the ranking was taken by Turkey ($X), with a 2.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Ukraine totaled +56.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-21.5% per year) and Spain (+55.7% per year).

Import Prices by Country

The average import price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, surging by 37% against the previous year. Overall, the import price, however, recorded a slight slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by 334% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Ukraine ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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