Iraq: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2025

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

In 2021, the Iraqi market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -4.4% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, enjoyed notable growth. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified rose sharply to $X in 2021 estimated in export price. In general, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 51% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production of growth remained at a somewhat lower figure.

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

Exports from Iraq

In 2021, exports of sunflower-seed or safflower oil, refined, but not chemically modified from Iraq reduced remarkably to X tons, waning by -30.2% on 2020 figures. Over the period under review, exports, however, posted a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 430% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified dropped notably to $X in 2021. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 320% against the previous year. Over the period under review, the exports of hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Iraq, accounting for a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +11.3%.

In value terms, Turkey ($X) also remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Iraq.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled +14.1%.

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, flattening at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 30%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to +2.5% per year.

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

Imports into Iraq

In 2021, approx. X tons of sunflower-seed or safflower oil, refined, but not chemically modified were imported into Iraq; declining by -44.7% on 2020. In general, imports faced a abrupt descent. The growth pace was the most rapid in 2014 with an increase of 104% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified fell sharply to $X in 2021. Overall, imports recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 62%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Turkey (X tons), Iran (X tons) and Azerbaijan (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to Iraq, with a combined 98% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of +77.8%), while imports for the other leaders experienced a decline.

In value terms, Turkey ($X), Iran ($X) and Azerbaijan ($X) constituted the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to Iraq, together comprising 98% of total imports.

In terms of the main suppliers, Iran, with a CAGR of +76.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

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, rising by 53% against the previous year. In general, the import price, however, continues to indicate a mild descent. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Iran ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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