Indonesia: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Indonesia

After six years of growth, the Indonesian market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -5.4% to $X in 2021. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% 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 +57.3% against 2012 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then contracted in the following year.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Indonesia

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified reduced to $X in 2021 estimated in export price. Over the period under review, the total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +54.4% against 2014 indices. The most prominent rate of growth was recorded in 2020 with an increase of 14% against the previous year. As a result, production reached the peak level of $X, and then contracted in the following year.

Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Exports from Indonesia

After four years of growth, overseas shipments of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -57.9% to X tons in 2021. In general, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 100,382%. The exports peaked at X tons in 2020, and then dropped remarkably in the following year.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified dropped sharply to $X in 2021. Overall, exports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of 10,345%. Over the period under review, the exports of attained the peak figure at $X in 2020, and then declined dramatically in the following year.

Exports by Country

Myanmar (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Indonesia, accounting for a 81% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Myanmar exceeded the volume sent to the second major destination, Singapore (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Myanmar stood at -65.4%.

In value terms, Myanmar ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Indonesia, comprising 88% of total exports. The second position in the ranking was held by Singapore ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Myanmar totaled -46.6%.

Export Prices by Country

In 2021, the average export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, rising by 39% against the previous year. Overall, the export price, however, showed a significant decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Singapore stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+54.5%), while the prices for the other major destinations experienced a decline.

Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Imports into Indonesia

After four years of growth, supplies from abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -8.1% to X tons in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 36%. Over the period under review, imports of attained the maximum at X tons in 2020, and then declined in the following year.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +107.5% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), France (X tons) and Singapore (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to Indonesia, with a combined 83% share of total imports. Turkey, Ukraine, Germany, the Netherlands, Spain and Australia lagged somewhat behind, together comprising a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +168.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), France ($X) and Singapore ($X) constituted the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to Indonesia, with a combined 81% share of total imports. Turkey, Ukraine, the Netherlands, Germany, Spain and Australia lagged somewhat behind, together comprising a further 16%.

Germany, with a CAGR of +119.0%, recorded the highest growth rate of the value of imports, among 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 sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, with an increase of 48% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Australia ($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 (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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