GCC: Market for Sunflower-Seed And Safflower Oil 2025

Market Size for Sunflower-Seed And Safflower Oil in GCC

For the fifth year in a row, the GCC sunflower-seed and safflower oil market recorded growth in sales value, which increased by 1.2% to $X in 2022. In general, consumption enjoyed a buoyant increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Production of Sunflower-Seed And Safflower Oil in GCC

In value terms, sunflower-seed and safflower oil production soared to $X in 2022 estimated in export price. In general, production enjoyed a strong expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Sunflower-Seed And Safflower Oil

Exports in GCC

Sunflower-seed and safflower oil exports fell notably to X tons in 2022, waning by -24.4% against 2021. Overall, exports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 85%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil exports fell rapidly to $X in 2022. Over the period under review, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 108% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Oman (X tons) and Saudi Arabia (X tons) represented roughly 76% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), generating a 23% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +27.1%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Saudi Arabia ($X), Oman ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 98% of total exports. These countries were followed by Kuwait, which accounted for a further 2.2%.

Kuwait, with a CAGR of +31.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, dropping by -3.7% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 12% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Kuwait ($X per ton) and the United Arab Emirates ($X per ton), while Oman ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Sunflower-Seed And Safflower Oil

Imports in GCC

In 2022, supplies from abroad of sunflower-seed and safflower oil decreased by -22.8% to X tons, falling for the second year in a row after three years of growth. Total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -29.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 29%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil imports fell notably to $X in 2022. Total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 36%. As a result, imports reached the peak of $X, and then dropped remarkably in the following year.

Imports by Country

The United Arab Emirates represented the largest importer of sunflower-seed and safflower oil in GCC, with the volume of imports reaching X tons, which was near 54% of total imports in 2022. Oman (X tons) ranks second in terms of the total imports with an 18% share, followed by Qatar (11%), Saudi Arabia (8.2%) and Kuwait (5.7%). Bahrain (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +7.0% from 2012 to 2022. At the same time, Qatar (+14.6%), Kuwait (+14.5%), Bahrain (+3.4%) and Oman (+2.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +14.6% from 2012-2022. By contrast, Saudi Arabia (-13.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Qatar and Kuwait increased by +20, +7.8 and +3.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sunflower-seed and safflower oil in GCC, comprising 47% of total imports. The second position in the ranking was taken by Qatar ($X), with an 18% share of total imports. It was followed by Oman, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +6.3%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+24.8% per year) and Oman (+2.9% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with a decrease of -9.9% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 50% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform