EU: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in the EU

In 2022, the EU market for crude sunflower-seed and safflower oil increased by 24% to $X, rising for the seventh consecutive year after two years of decline. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +86.2% against 2015 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Crude Sunflower-Seed And Safflower Oil in the EU

In value terms, crude sunflower-seed and safflower oil production skyrocketed to $X in 2022 estimated in export price. In general, production continues to indicate prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 47%. The level of production peaked in 2022 and is expected to retain growth in years to come.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports in the EU

Crude sunflower-seed and safflower oil exports surged to X tons in 2022, growing by 38% on 2021 figures. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +110.4% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil exports surged to $X in 2022. Over the period under review, exports continue to indicate strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Bulgaria (X tons), distantly followed by the Netherlands (X tons), Hungary (X tons), Romania (X tons), France (X tons) and Poland (X tons) represented the major exporters of crude sunflower-seed and safflower oil, together making up 91% of total exports. Spain (X tons) followed a long way behind the leaders.

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, Bulgaria ($X) remains the largest crude sunflower-seed and safflower oil supplier in the European Union, comprising 35% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total exports. It was followed by Hungary, with a 14% share.

In Bulgaria, crude sunflower-seed and safflower oil exports expanded at an average annual rate of +29.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+8.6% per year) and Hungary (+12.4% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, surging by 32% against the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 +105.5% against 2018 indices. The pace of growth was the most pronounced in 2021 when the export price increased by 42% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Spain ($X per ton) and Bulgaria ($X per ton), while the Netherlands ($X per ton) and Hungary ($X per ton) were 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 the EU

In 2022, crude sunflower-seed and safflower oil imports in the European Union skyrocketed to X tons, increasing by 23% against 2021 figures. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 33% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, crude sunflower-seed and safflower oil imports surged to $X in 2022. Over the period under review, imports showed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X tons) and Italy (X tons) represented the main importers of crude sunflower-seed and safflower oil in 2022, accounting for near 19% and 17% of total imports, respectively. It was followed by the Netherlands (X tons), Poland (X tons), Germany (X tons), Bulgaria (X tons), France (X tons) and Belgium (X tons), together comprising a 51% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +34.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude sunflower-seed and safflower oil importing markets in the European Union were Spain ($X), Italy ($X) and the Netherlands ($X), with a combined 48% share of total imports. Poland, Germany, Bulgaria, France and Belgium lagged somewhat behind, together accounting for a further 38%.

In terms of the main importing countries, Bulgaria, with a CAGR of +35.1%, 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

In 2022, the import price in the European Union amounted to $X per ton, growing by 20% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% 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 import price increased by +97.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 55%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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