Georgia: Market for Sunflower-Seed And Safflower Oil 2019

Market Size for Sunflower-Seed And Safflower Oil in Georgia

The revenue of the sunflower-seed and safflower oil market in Georgia amounted to $X in 2018, picking up by X% against the previous year. Over the period under review, the total market indicated buoyant growth from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. In that year, the sunflower-seed and safflower oil market reached its peak level and is likely to continue its growth in the immediate term.

Production of Sunflower-Seed And Safflower Oil in Georgia

In value terms, sunflower-seed and safflower oil production totaled $X in 2018 estimated in export prices. Overall, sunflower-seed and safflower oil production continues to indicate strong growth. The growth pace was the most rapid in 2008 when production volume increased by X% against the previous year. Georgia sunflower-seed and safflower oil production peaked at $X in 2010; however, from 2011 to 2018, production stood at a somewhat lower figure.

Exports of Sunflower-Seed And Safflower Oil

Exports from Georgia

In 2018, the amount of sunflower-seed and safflower oil exported from Georgia totaled X tons, waning by -X% against the previous year. Overall, sunflower-seed and safflower oil exports continue to indicate a moderate drop. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. In that year, sunflower-seed and safflower oil exports attained their peak of X tons, and then declined slightly in the following year.

In value terms, sunflower-seed and safflower oil exports stood at $X in 2018. Over the period under review, sunflower-seed and safflower oil exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. In that year, sunflower-seed and safflower oil exports reached their peak of $X, and then declined slightly in the following year.

Exports by Country

Ukraine represented the key exporter of sunflower-seed and safflower oil in the world, with the volume of exports reaching X tons, which was approx. X% of total exports in 2018. It was distantly followed by Russia (X tons), Argentina (X tons), the Netherlands (X tons) and Hungary (X tons), together comprising a X% share of total exports. France (X tons), Turkey (X tons), Bulgaria (X tons), Spain (X tons) and Romania (X tons) occupied a little share of total exports.

From 2007 to 2018, average annual rates of growth with regard to sunflower-seed and safflower oil exports from Ukraine stood at +X%. At the same time, Turkey (+X%), Bulgaria (+X%), Spain (+X%), Romania (+X%), Hungary (+X%), Russia (+X%), France (+X%) and the Netherlands (+X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Argentina experienced a relatively flat trend pattern. Ukraine (+X p.p.), Russia (+X p.p.), Turkey (+X p.p.), Hungary (+X p.p.), Bulgaria (+X p.p.), Spain (+X p.p.) and the Netherlands (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ukraine ($X) remains the largest sunflower-seed and safflower oil supplier from Georgia, comprising X% of global exports. The second position in the ranking was occupied by Russia ($X), with a X% share of global exports. It was followed by Argentina, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Ukraine amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (+X% per year) and Argentina (+X% per year).

Export Prices by Country

In 2018, the sunflower-seed and safflower oil export price in Georgia amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price indicated resilient growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the export price increased by X% year-to-year. Over the period under review, the export prices for sunflower-seed and safflower oil attained their peak figure at $X per ton in 2010; however, from 2011 to 2018, export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2018, major exporting countries recorded the following prices: in Turkey ($X per ton) and Spain ($X per ton), while Ukraine ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other leaders experienced mixed trends in the export price figures.

Imports of Sunflower-Seed And Safflower Oil

Imports into Georgia

In 2018, the sunflower-seed and safflower oil imports into Georgia totaled X tons, surging by X% against the previous year. Over the period under review, the total imports indicated a prominent expansion from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, sunflower-seed and safflower oil imports reached their peak figure in 2018 and are expected to retain its growth in the immediate term.

In value terms, sunflower-seed and safflower oil imports amounted to $X in 2018. In general, the total imports indicated a significant increase from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Georgia imports peaked at $X in 2013; however, from 2014 to 2018, imports failed to regain their momentum.

Imports by Country

India represented the key importer of sunflower-seed and safflower oil in the world, with the volume of imports recording X tons, which was approx. X% of total imports in 2018. Italy (X tons) held the second position in the ranking, followed by Turkey (X tons), Spain (X tons) and the Netherlands (X tons). All these countries together took approx. X% share of total imports. Iraq (X tons), Iran (X tons), Belgium (X tons), Germany (X tons), the UK (X tons), Egypt (X tons) and France (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the sunflower-seed and safflower oil imports, with a CAGR of +X% from 2007 to 2018. At the same time, Turkey (+X%), Italy (+X%), Iraq (+X%), Iran (+X%), Egypt (+X%), Spain (+X%), the Netherlands (+X%), Belgium (+X%), Germany (+X%) and the UK (+X%) displayed positive paces of growth. France experienced a relatively flat trend pattern. While the share of India (+X p.p.), Turkey (+X p.p.), Italy (+X p.p.), Iraq (+X p.p.), Iran (+X p.p.), Spain (+X p.p.), the Netherlands (+X p.p.) and Egypt (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported sunflower-seed and safflower oil into Georgia, comprising X% of global imports. The second position in the ranking was occupied by Italy ($X), with a X% share of global imports. It was followed by the Netherlands, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in India stood at +X%. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+X% per year) and the Netherlands (+X% per year).

Import Prices by Country

In 2018, the sunflower-seed and safflower oil import price in Georgia amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the sunflower-seed and safflower oil import price, however, continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2008 when the import price increased by X% against the previous year. In that year, the import prices for sunflower-seed and safflower oil reached their peak level of $X per ton. From 2009 to 2018, the growth in terms of the import prices for sunflower-seed and safflower oil failed to regain its momentum.

Average prices varied somewhat amongst the major importing countries. In 2018, major importing countries recorded the following prices: in Germany ($X per ton) and Belgium ($X per ton), while Iran ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform