Europe: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Europe

The Europe sunflower oilcake market expanded markedly to $X in 2021, picking up by 12% against the previous year. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Sunflower Oilcake Production in Europe

In value terms, sunflower oilcake production expanded significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 24%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Sunflower Oilcake Exports

Exports in Europe

In 2021, shipments abroad of sunflower oilcake decreased by -15% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 24% against the previous year. The volume of export peaked at X tons in 2020, and then fell in the following year.

In value terms, sunflower oilcake exports amounted to $X in 2021. Total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.5% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 16%. The level of export peaked in 2021 and is likely to continue growth in the near future.

Exports by Country

In 2021, Ukraine (X tons) was the main exporter of sunflower oilcake, achieving 49% of total exports. It was distantly followed by Russia (X tons), Bulgaria (X tons), the Netherlands (X tons) and Hungary (X tons), together generating a 38% share of total exports. Romania (X tons) followed a long way behind the leaders.

Ukraine experienced a relatively flat trend pattern with regard to volume of exports of sunflower oilcake. At the same time, Bulgaria (+17.8%), Hungary (+5.9%), the Netherlands (+4.6%) and Romania (+4.3%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Europe, with a CAGR of +17.8% from 2012-2021. Russia experienced a relatively flat trend pattern. While the share of Bulgaria (+5.3 p.p.), Hungary (+1.8 p.p.) and the Netherlands (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ukraine (-2.6 p.p.) and Russia (-3.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ukraine ($X) remains the largest sunflower oilcake supplier in Europe, comprising 50% of total exports. The second position in the ranking was held by Russia ($X), with a 19% share of total exports. It was followed by Bulgaria, with a 7.2% share.

In Ukraine, sunflower oilcake exports increased at an average annual rate of +5.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Russia (+2.6% per year) and Bulgaria (+21.4% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, rising by 34% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. The growth pace was the most rapid in 2013 when the export price increased by 34%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Hungary ($X per ton) and Bulgaria ($X per ton), while the Netherlands ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+5.6%), while the other leaders experienced more modest paces of growth.

Sunflower Oilcake Imports

Imports in Europe

In 2021, the amount of sunflower oilcake imported in Europe reduced markedly to X tons, shrinking by -17.5% against 2020. In general, imports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2017 with an increase of 17% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, sunflower oilcake imports rose rapidly to $X in 2021. Overall, imports recorded a mild downturn. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

France (X tons), Italy (X tons), the Netherlands (X tons), Belarus (X tons), Germany (X tons), Poland (X tons), the UK (X tons), Denmark (X tons), Belgium (X tons) and Spain (X tons) represented roughly 85% of total imports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Germany (with a CAGR of +2.8%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest sunflower oilcake importing markets in Europe were France ($X), Italy ($X) and the Netherlands ($X), with a combined 40% share of total imports. These countries were followed by Belarus, Germany, Poland, the UK, Denmark, Belgium and Spain, which together accounted for a further 44%.

Germany, with a CAGR of +5.2%, saw the highest rates of growth with regard to the value of imports, among 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

In 2021, the import price in Europe amounted to $X per ton, surging by 36% against the previous year. Import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sunflower oilcake import price increased by +57.5% against 2017 indices. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Germany ($X per ton) and the Netherlands ($X per ton), while Denmark ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform