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

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

In 2022, the Europe market for crude sunflower-seed and safflower oil increased by 15% to $X, rising for the seventh consecutive year after three years of decline. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +67.2% 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 Europe

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

Exports of Crude Sunflower-Seed And Safflower Oil

Exports in Europe

In 2022, crude sunflower-seed and safflower oil exports in Europe expanded to X tons, surging by 1.9% against 2021 figures. Total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% 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 -18.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports rose remarkably to $X in 2022. Over the period under review, exports saw a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 26%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

In 2022, Ukraine (X tons) represented the major exporter of crude sunflower-seed and safflower oil, comprising 44% of total exports. Russia (X tons) held a 26% share (based on physical terms) of total exports, which put it in second place, followed by Bulgaria (9.1%) and the Netherlands (5.3%). Hungary (X tons), Romania (X tons) and Moldova (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 leading exporting countries, was attained by Bulgaria (with a CAGR of +23.7%), while the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) remains the largest crude sunflower-seed and safflower oil supplier in Europe, comprising 41% of total exports. The second position in the ranking was held by Russia ($X), with a 19% share of total exports. It was followed by Bulgaria, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Ukraine totaled +2.3%. In the other countries, the average annual rates were as follows: Russia (+5.0% per year) and Bulgaria (+29.7% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, increasing by 5.5% against the previous year. Export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 +82.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by 58% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

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 Europe

Crude sunflower-seed and safflower oil imports surged to X tons in 2022, jumping by 22% against 2021 figures. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 28% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil imports skyrocketed to $X in 2022. In general, imports showed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) and Italy (X tons) represented the key importers of crude sunflower-seed and safflower oil in Europe, together reaching approx. 34% of total imports. The Netherlands (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Poland (9.8%), Germany (8.6%), Bulgaria (7.7%), France (5.7%) and Belgium (4.6%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bulgaria (with a CAGR of +34.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and the Netherlands ($X) constituted the countries with the highest levels of imports in 2022, with a combined 44% share of total imports. Poland, Germany, Bulgaria, France and Belgium lagged somewhat behind, together accounting for a further 35%.

Bulgaria, with a CAGR of +35.1%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 Europe stood at $X per ton in 2022, with an increase of 21% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.7% 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 +97.4% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 54% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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