Indonesia: Market for Crude Sunflower-Seed And Safflower Oil 2024

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

The Indonesian market for crude sunflower-seed and safflower oil soared to $X in 2022, growing by 77% against the previous year. Overall, consumption saw a buoyant increase. Crude sunflower-seed and safflower oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Crude Sunflower-Seed And Safflower Oil in Indonesia

In value terms, crude sunflower-seed and safflower oil production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2015 when the production volume increased by 84%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Indonesia

In 2022, approx. X tons of crude sunflower-seed and safflower oil were exported from Indonesia; reducing by -49.7% compared with 2021 figures. Over the period under review, exports faced a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 19,750% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, crude sunflower-seed and safflower oil exports plummeted to $X in 2022. In general, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 20,895%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for crude sunflower-seed and safflower oil exports from Indonesia, accounting for a approx. 78% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden was relatively modest.

In value terms, Sweden ($X) emerged as the key foreign market for crude sunflower-seed and safflower oil exports from Indonesia.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden was relatively modest.

Export Prices by Country

The average export price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the export price continues to indicate a perceptible downturn. The growth pace was the most rapid in 2014 an increase of 14% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Sudan amounted to +35.4% per year.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Indonesia

In 2022, approx. X tons of crude sunflower-seed and safflower oil were imported into Indonesia; shrinking by -21.1% compared with the previous year. In general, imports, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2018 with an increase of 119%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil imports shrank dramatically to $X in 2022. Overall, imports, however, enjoyed modest growth. The pace of growth appeared the most rapid in 2016 with an increase of 151%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest crude sunflower-seed and safflower oil supplier to Indonesia, with a 57% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. India (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+241.1% per year) and India (+5,791.2% per year).

In value terms, the Netherlands ($X), the United States ($X) and India ($X) constituted the largest crude sunflower-seed and safflower oil suppliers to Indonesia, together comprising 64% of total imports.

India, with a CAGR of +10,888.5%, recorded the highest growth rate of 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

The average import price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, surging by 6.7% against the previous year. In general, the import price, however, showed a slight decrease. The pace of growth was the most pronounced in 2016 an increase of 58% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+86.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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