Hungary: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Hungary

After three years of growth, the Hungarian sunflower oilcake market decreased by -3.5% to $X in 2021. Over the period under review, consumption showed a relatively flat trend pattern. Sunflower oilcake consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Sunflower Oilcake Production in Hungary

In value terms, sunflower oilcake production surged to $X in 2021 estimated in export price. Overall, production enjoyed resilient growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 85%. Sunflower oilcake production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Sunflower Oilcake Exports

Exports from Hungary

In 2021, sunflower oilcake exports from Hungary soared to X tons, growing by 18% compared with 2020 figures. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -7.0% against 2019 indices. The growth pace was the most rapid in 2017 when exports increased by 46% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, sunflower oilcake exports skyrocketed to $X in 2021. Overall, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +9.6% 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 +101.1% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 57%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons), Germany (X tons) and Croatia (X tons) were the main destinations of sunflower oilcake exports from Hungary, with a combined 74% share of total exports. These countries were followed by Austria, the Czech Republic, Slovakia, France, Slovenia, Poland and the Netherlands, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +23.4%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and Croatia ($X) appeared to be the largest markets for sunflower oilcake exported from Hungary worldwide, with a combined 75% share of total exports. These countries were followed by Austria, the Czech Republic, Slovakia, France, Slovenia, Poland and the Netherlands, which together accounted for a further 22%.

In terms of the main countries of destination, Austria, with a CAGR of +25.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sunflower oilcake export price amounted to $X per ton, surging by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.5%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 28% against the previous year. The export price peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Poland ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Oilcake Imports

Imports into Hungary

Sunflower oilcake imports into Hungary surged to X tons in 2021, growing by 124% compared with the previous year. Overall, imports, however, recorded a abrupt decline. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, sunflower oilcake imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a abrupt decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Romania (X tons) constituted the largest supplier of sunflower oilcake to Hungary, accounting for a 71% share of total imports. Moreover, sunflower oilcake imports from Romania exceeded the figures recorded by the second-largest supplier, Austria (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume from Romania stood at -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+19.0% per year) and Italy (+43.3% per year).

In value terms, Romania ($X) constituted the largest supplier of sunflower oilcake to Hungary, comprising 70% of total imports. The second position in the ranking was held by Austria ($X), with a 25% share of total imports. It was followed by Italy, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Romania amounted to -9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+20.8% per year) and Italy (+43.6% per year).

Import Prices by Country

The average sunflower oilcake import price stood at $X per ton in 2021, picking up by 31% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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