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

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

The Iranian market for crude sunflower-seed and safflower oil declined significantly to $X in 2022, with a decrease of -25.8% against the previous year. Overall, consumption continues to indicate a deep slump. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Crude Sunflower-Seed And Safflower Oil in Iran

In value terms, crude sunflower-seed and safflower oil production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 261% against the previous year. Crude sunflower-seed and safflower oil production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Iran

After three years of decline, shipments abroad of crude sunflower-seed and safflower oil increased by 12% to X tons in 2022. Over the period under review, exports, however, saw a precipitous descent. The growth pace was the most rapid in 2017 when exports increased by 439% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports expanded notably to $X in 2022. In general, exports, however, saw a dramatic slump. The most prominent rate of growth was recorded in 2017 when exports increased by 883%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Afghanistan (X tons), Iraq (X tons) and Georgia (X tons) were the main destinations of crude sunflower-seed and safflower oil exports from Iran, together comprising 96% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of -16.8%), while the other leaders experienced a decline.

In value terms, Iraq ($X), Afghanistan ($X) and Kyrgyzstan ($X) constituted the largest markets for crude sunflower-seed and safflower oil exported from Iran worldwide, with a combined 94% share of total exports.

Among the main countries of destination, Afghanistan, with a CAGR of -24.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

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. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude sunflower-seed and safflower oil export price increased by +25.2% against 2017 indices. The growth pace was the most rapid in 2017 when the average export price increased by 83% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while the average price for exports to Georgia ($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 Iraq (+7.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Iran

In 2022, the amount of crude sunflower-seed and safflower oil imported into Iran contracted notably to X tons, which is down by -27.4% on the year before. In general, imports showed a abrupt descent. The pace of growth was the most pronounced in 2021 when imports increased by 106% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil imports contracted significantly to $X in 2022. Overall, imports saw a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 167%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), Switzerland (X tons) and Argentina (X tons) were the main suppliers of crude sunflower-seed and safflower oil imports to Iran, with a combined 89% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +5.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Switzerland ($X) and Argentina ($X) were the largest crude sunflower-seed and safflower oil suppliers to Iran, together comprising 83% of total imports.

In terms of the main suppliers, Switzerland, with a CAGR of +5.0%, saw the highest rates of growth with regard to the value of imports, 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, falling by -5.4% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 33% against the previous year. The import price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+29.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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