GCC: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2025

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

In 2021, after three years of growth, there was significant decline in the GCC market for sunflower-seed or safflower oil, refined, but not chemically modified, when its value decreased by -5.8% to $X. Overall, consumption, however, posted prominent growth. Over the period under review, the market reached the maximum level at $X in 2020, and then contracted in the following year.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified contracted slightly to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +31.8% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 38% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

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

Exports in GCC

In 2021, after two years of decline, there was significant growth in shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume increased by 92% to X tons. Over the period under review, exports, however, continue to indicate a perceptible curtailment. Over the period under review, the exports of attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. In general, exports, however, showed a pronounced decrease. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Oman (X tons) and Saudi Arabia (X tons) dominates modified structure, together comprising 88% of total exports. It was distantly followed by the United Arab Emirates (X tons), achieving a 9.9% share of total exports. Kuwait (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were in Kuwait (with a CAGR of +37.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Oman ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2021, together comprising 97% of total exports. These countries were followed by Kuwait, which accounted for a further 2.6%.

Kuwait, with a CAGR of +41.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, picking up by 7.8% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 12%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Saudi Arabia ($X per ton), while Oman ($X per ton) and Kuwait ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+3.1%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in GCC

In 2021, supplies from abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -19.9% to X tons, falling for the second consecutive year after six years of growth. Overall, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 81% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified expanded markedly to $X in 2021. Over the period under review, imports, however, showed resilient growth. The growth pace was the most rapid in 2014 with an increase of 41%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates was the largest importing country with an import of around X tons, which reached 48% of total imports. Oman (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (13%), Saudi Arabia (12%), Qatar (5.8%) and Bahrain (5%).

From 2012 to 2021, average annual rates of growth with regard to sunflower-seed or safflower oil, refined, but not chemically modified imports into the United Arab Emirates stood at +15.3%. At the same time, Oman (+26.1%), Kuwait (+21.2%), Qatar (+8.1%) and Bahrain (+4.9%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +26.1% from 2012-2021. By contrast, Saudi Arabia (-5.9%) illustrated a downward trend over the same period. The United Arab Emirates (+18 p.p.), Oman (+12 p.p.) and Kuwait (+7.7 p.p.) significantly strengthened its position in terms of the total imports, while Bahrain and Saudi Arabia saw its share reduced by -2.2% and -34.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sunflower-seed or safflower oil, refined, but not chemically modified in GCC, comprising 46% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 15% share of total imports. It was followed by Oman, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +15.1%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+20.8% per year) and Oman (+23.0% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, growing by 39% against the previous year. In general, the import price, however, saw a noticeable reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Kuwait ($X per ton) and Bahrain ($X per ton), while Oman ($X per ton) and Qatar ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform