Egypt: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Egypt

In 2022, the Egyptian sunflower-seed and safflower oil market increased by 36% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, showed a abrupt slump. Sunflower-seed and safflower oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Sunflower-Seed And Safflower Oil in Egypt

In value terms, sunflower-seed and safflower oil production contracted to $X in 2022 estimated in export price. In general, production showed a abrupt decline. The growth pace was the most rapid in 2021 when the production volume increased by 40% against the previous year. Sunflower-seed and safflower oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Sunflower-Seed And Safflower Oil

Exports from Egypt

For the third year in a row, Egypt recorded decline in shipments abroad of sunflower-seed and safflower oil, which decreased by -39.7% to X tons in 2022. Over the period under review, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 96% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sunflower-seed and safflower oil exports shrank dramatically to $X in 2022. In general, exports saw a abrupt decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 110% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Syrian Arab Republic (X tons) was the main destination for sunflower-seed and safflower oil exports from Egypt, with a 43% share of total exports. Moreover, sunflower-seed and safflower oil exports to Syrian Arab Republic exceeded the volume sent to the second major destination, Rwanda (X tons), threefold. Palestine (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Syrian Arab Republic amounted to +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+77.5% per year) and Palestine (+5.2% per year).

In value terms, Syrian Arab Republic ($X) emerged as the key foreign market for sunflower-seed and safflower oil exports from Egypt, comprising 44% of total exports. The second position in the ranking was held by Rwanda ($X), with a 15% share of total exports. It was followed by Jordan, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Syrian Arab Republic amounted to +20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+84.0% per year) and Jordan (-14.9% per year).

Export Prices by Country

The average sunflower-seed and safflower oil export price stood at $X per ton in 2022, increasing by 27% against the previous year. Over the period under review, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil export price increased by +107.5% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 63%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Mauritius ($X per ton) and Rwanda ($X per ton), while the average price for exports to Palestine ($X per ton) and Kenya ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Madagascar (+38.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Egypt

In 2022, the amount of sunflower-seed and safflower oil imported into Egypt declined to X tons, reducing by -5.6% against 2021. Over the period under review, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 74%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil imports skyrocketed to $X in 2022. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 64% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest sunflower-seed and safflower oil supplier to Egypt, accounting for a 90% share of total imports. Moreover, sunflower-seed and safflower oil imports from Russia exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled -8.8%.

In value terms, Russia ($X) constituted the largest supplier of sunflower-seed and safflower oil to Egypt, comprising 90% of total imports. The second position in the ranking was held by Ukraine ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Russia stood at -7.5%.

Import Prices by Country

The average sunflower-seed and safflower oil import price stood at $X per ton in 2022, rising by 24% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil import price increased by +134.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 40%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Russia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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