Israel: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Israel

In 2022, the Israeli sunflower-seed and safflower oil market increased by 8.1% to $X, rising for the eighth year in a row after two years of decline. Overall, consumption, however, recorded a resilient expansion. Sunflower-seed and safflower oil consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Sunflower-Seed And Safflower Oil in Israel

In value terms, sunflower-seed and safflower oil production rose rapidly to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2015 when the production volume increased by 112%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Exports of Sunflower-Seed And Safflower Oil

Exports from Israel

In 2022, overseas shipments of sunflower-seed and safflower oil increased by 28% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of 223% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, sunflower-seed and safflower oil exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 168% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X tons) and Cameroon (X tons) were the main destinations of sunflower-seed and safflower oil exports from Israel.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +53.8%).

In value terms, the largest markets for sunflower-seed and safflower oil exported from Israel were the UK ($X) and Cameroon ($X).

The UK, with a CAGR of +59.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, with an increase of 20% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 38%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Cameroon amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Sunflower-Seed And Safflower Oil

Imports into Israel

In 2022, purchases abroad of sunflower-seed and safflower oil decreased by -13.7% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 59% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, sunflower-seed and safflower oil imports totaled $X in 2022. Over the period under review, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 44% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Ukraine (X tons), Turkey (X tons) and Russia (X tons) were the main suppliers of sunflower-seed and safflower oil imports to Israel, with a combined 59% share of total imports. Spain, Hungary, Romania, Greece and Belarus lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +214.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Turkey ($X) and Russia ($X) constituted the largest sunflower-seed and safflower oil suppliers to Israel, together comprising 59% of total imports. Spain, Hungary, Romania, Greece and Belarus lagged somewhat behind, together accounting for a further 39%.

In terms of the main suppliers, Greece, with a CAGR of +319.8%, 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 sunflower-seed and safflower oil import price amounted to $X per ton, picking up by 30% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil import price increased by +102.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 37% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Romania ($X per ton) and Greece ($X per ton), while the price for Russia ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+33.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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