India: Market for Crude Sunflower-Seed And Safflower Oil 2025

Market Size for Crude Sunflower-Seed And Safflower Oil in India

The Indian market for crude sunflower-seed and safflower oil surged to $X in 2022, with an increase of 18% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +77.2% against 2016 indices. Crude sunflower-seed and safflower oil consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Crude Sunflower-Seed And Safflower Oil in India

In value terms, crude sunflower-seed and safflower oil production fell to $X in 2022 estimated in export price. Over the period under review, production saw a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 121% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from India

In 2022, after two years of decline, there was significant growth in shipments abroad of crude sunflower-seed and safflower oil, when their volume increased by 7,783% to X tons. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 10,478% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports skyrocketed to $X in 2022. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 10,805% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X tons) was the main destination for crude sunflower-seed and safflower oil exports from India, with a 96% share of total exports. It was followed by the United Arab Emirates (X tons), with a 1.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia amounted to +108.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+39.4% per year) and Singapore (-6.5% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for crude sunflower-seed and safflower oil exports from India, comprising 94% of total exports. The second position in the ranking was taken by Singapore ($X), with a 1.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia stood at +110.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-8.8% per year) and the United Arab Emirates (+37.9% per year).

Export Prices by Country

In 2022, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, growing by 33% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 77%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+0.9%), while the prices for the other major destinations experienced a decline.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into India

In 2022, crude sunflower-seed and safflower oil imports into India reached X tons, picking up by 3.9% against 2021 figures. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 51%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil imports skyrocketed to $X in 2022. In general, imports showed strong growth. The pace of growth was the most pronounced in 2017 when imports increased by 42% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Ukraine (X tons), Russia (X tons) and Argentina (X tons) were the main suppliers of crude sunflower-seed and safflower oil imports to India, together accounting for 85% of total imports. Romania, Turkey and Bulgaria lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +166.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude sunflower-seed and safflower oil suppliers to India were Ukraine ($X), Russia ($X) and Argentina ($X), with a combined 84% share of total imports. Turkey, Romania and Bulgaria lagged somewhat behind, together comprising a further 12%.

Turkey, with a CAGR of +199.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other 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, jumping by 21% against the previous year. In general, the import price recorded pronounced growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by 59% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Turkey ($X per ton) and Argentina ($X per ton), while the price for Ukraine ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+24.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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