Iran: 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 Iran

After six years of growth, the Iranian market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -2.2% to $X in 2021. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020, and then dropped in the following year.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified dropped slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a mild reduction. The pace of growth was the most pronounced in 2015 when the production volume increased by 6.9% against the previous year. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

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

Exports from Iran

In 2021, shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified increased by 39% to X tons for the first time since 2013, thus ending a seven-year declining trend. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 155% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. Overall, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by 45% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Iraq (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Iran, with a 76% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Iraq exceeded the volume sent to the second major destination, Afghanistan (X tons), fourfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume to Iraq totaled +41.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (-9.4% per year) and the United Arab Emirates (-15.9% per year).

In value terms, Iraq ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Iran, comprising 72% of total exports. The second position in the ranking was held by Afghanistan ($X), with a 26% share of total exports. It was followed by the United Arab Emirates, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Iraq stood at +30.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (-14.0% per year) and the United Arab Emirates (-23.4% per year).

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, with a decrease of -3.3% against the previous year. Overall, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 when the average export price decreased by -1.3% against the previous year. 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 export markets. In 2021, the country with the highest price was Afghanistan ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Afghanistan (-5.0%), 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 Iran

In 2021, supplies from abroad of sunflower-seed or safflower oil, refined, but not chemically modified increased by 534% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports showed a significant expansion. Over the period under review, imports of attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2021. Overall, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) was the main sunflower-seed or safflower oil, refined, but not chemically modified supplier to Iran, accounting for a 97% share of total imports. It was followed by Oman (X tons), with a 2.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +35.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+38.1% per year) and the United Arab Emirates (-16.6% per year).

In value terms, Turkey ($X) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Iran, comprising 97% of total imports. The second position in the ranking was held by Oman ($X), with a 2.5% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Turkey amounted to +35.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+40.3% per year) and the United Arab Emirates (-14.8% per year).

Import Prices by Country

In 2021, the average import price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, increasing by 49% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Oman ($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 United Arab Emirates (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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