India: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in India

After four years of growth, the Indian sunflower oilcake market decreased by -2.6% to $X in 2021. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +108.2% against 2012 indices. Sunflower oilcake consumption peaked at $X in 2020, and then declined slightly in the following year.

Sunflower Oilcake Production in India

In value terms, sunflower oilcake production reduced slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +21.0% against 2015 indices. The pace of growth appeared the most rapid in 2014 with an increase of 31%. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Sunflower Oilcake Exports

Exports from India

In 2021, shipments abroad of sunflower oilcake was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2018 when exports increased by 325% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, sunflower oilcake exports rose notably to $X in 2021. Overall, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 269% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Nepal (X tons) was the main destination for sunflower oilcake exports from India, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nepal amounted to -10.9%.

In value terms, Nepal ($X) also remains the key foreign market for sunflower oilcake exports from India.

From 2012 to 2021, the average annual growth rate of value to Nepal stood at -11.3%.

Export Prices by Country

In 2021, the average sunflower oilcake export price amounted to $X per ton, shrinking by -4% against the previous year. In general, the export price recorded a mild decline. The pace of growth appeared the most rapid in 2020 when the average export price increased by 19%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nepal.

From 2012 to 2021, the rate of growth in terms of prices for Egypt amounted to +25.2% per year.

Sunflower Oilcake Imports

Imports into India

In 2021, purchases abroad of sunflower oilcake decreased by -30.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 1,239%. Over the period under review, imports reached the maximum at X tons in 2020, and then contracted remarkably in the following year.

In value terms, sunflower oilcake imports declined to $X in 2021. Over the period under review, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 1,257%. Imports peaked at $X in 2020, and then fell slightly in the following year.

Imports by Country

In 2021, Argentina (X tons) constituted the largest supplier of sunflower oilcake to India, accounting for a 49% share of total imports. Moreover, sunflower oilcake imports from Argentina exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Australia (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina stood at +150.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+16.1% per year) and Australia (+87.2% per year).

In value terms, Argentina ($X) constituted the largest supplier of sunflower oilcake to India, comprising 46% of total imports. The second position in the ranking was taken by Australia ($X), with a 19% share of total imports. It was followed by the Netherlands, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Argentina amounted to +158.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+94.4% per year) and the Netherlands (+34.6% per year).

Import Prices by Country

The average sunflower oilcake import price stood at $X per ton in 2021, with an increase of 42% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per ton), while the price for Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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