Overview of the Global Market for Crude Sunflower-Seed And Safflower Oil

Market Size for Crude Sunflower-Seed And Safflower Oil

In 2022, the global market for crude sunflower-seed and safflower oil increased by 6.7% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the market value increased by 9.8%. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Crude Sunflower-Seed And Safflower Oil

In value terms, crude sunflower-seed and safflower oil production expanded to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 21%. Over the period under review, global production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports

Global crude sunflower-seed and safflower oil exports rose remarkably to X tons in 2022, picking up by 13% against 2021. Over the period under review, total exports indicated a perceptible increase 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 -10.4% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 22% against the previous year. The global exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil exports soared to $X in 2022. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 25%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Ukraine was the key exporting country with an export of around X tons, which recorded 37% of total exports. It was distantly followed by Russia (X tons), Bulgaria (X tons), Argentina (X tons) and the Netherlands (X tons), together mixing up a 41% share of total exports. The following exporters - Turkey (X tons), Hungary (X tons), Romania (X tons), Moldova (X tons), France (X tons), Kazakhstan (X tons) and Poland (X tons) - together made up 17% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +104.6%), while the other global leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) remains the largest crude sunflower-seed and safflower oil supplier worldwide, comprising 34% of global exports. The second position in the ranking was taken by Russia ($X), with a 16% share of global exports. It was followed by Bulgaria, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Ukraine amounted to +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

The average export price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, growing by 9.2% against the previous year. In general, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.6% 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 +87.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 58%. The global export price peaked in 2022 and is likely to see gradual growth in years to come.

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 global leaders experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports

In 2022, approx. X tons of crude sunflower-seed and safflower oil were imported worldwide; picking up by 8.9% on 2021 figures. Overall, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.4% 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 -12.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 21%. Global imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, crude sunflower-seed and safflower oil imports soared to $X in 2022. In general, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, India (X tons) and Turkey (X tons) represented the key importers of crude sunflower-seed and safflower oilaround the world, together finishing at approx. 35% of total imports. Spain (X tons) took the next position in the ranking, followed by Italy (X tons) and China (X tons). All these countries together held near 19% share of total imports. The following importers - Iraq (X tons), the Netherlands (X tons), Poland (X tons), Germany (X tons), Bulgaria (X tons), France (X tons), Belgium (X tons) and South Africa (X tons) - together made up 25% of total imports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +64.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest crude sunflower-seed and safflower oil importing markets worldwide were India ($X), Turkey ($X) and Spain ($X), with a combined 44% share of global imports. Italy, China, the Netherlands, Poland, Germany, Bulgaria, Iraq, France, Belgium and South Africa lagged somewhat behind, together accounting for a further 36%.

Among the main importing countries, Iraq, with a CAGR of +58.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, rising by 18% against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% 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 +97.3% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 53% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while Iraq ($X per ton) was 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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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