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

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

The Italian market for crude sunflower-seed and safflower oil skyrocketed to $X in 2022, surging by 35% against the previous year. Overall, consumption saw a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Crude Sunflower-Seed And Safflower Oil in Italy

In value terms, crude sunflower-seed and safflower oil production dropped markedly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 526% against the previous year. As a result, production attained the peak level of $X, and then reduced remarkably in the following year.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Italy

In 2022, the amount of crude sunflower-seed and safflower oil exported from Italy expanded slightly to X tons, with an increase of 3.7% on 2021 figures. Over the period under review, exports, however, saw a slight decline. The most prominent rate of growth was recorded in 2015 when exports increased by 34%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports totaled $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 18%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), the Netherlands (X tons) and Spain (X tons) were the main destinations of crude sunflower-seed and safflower oil exports from Italy, with a combined 72% share of total exports. France, Croatia, Tanzania, Greece and Austria lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Tanzania (with a CAGR of +58.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude sunflower-seed and safflower oil exported from Italy were the Netherlands ($X), Germany ($X) and Spain ($X), together comprising 59% of total exports. France, Croatia, Tanzania, Greece and Austria lagged somewhat behind, together accounting for a further 21%.

Tanzania, with a CAGR of +66.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, with an increase of 9.2% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Greece ($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 France (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Italy

After two years of decline, purchases abroad of crude sunflower-seed and safflower oil increased by 20% to X tons in 2022. In general, imports showed a resilient increase. The growth pace was the most rapid in 2014 with an increase of 38% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, crude sunflower-seed and safflower oil imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest crude sunflower-seed and safflower oil supplier to Italy, with a 43% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Ukraine exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. The third position in this ranking was taken by Bulgaria (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+18.3% per year) and Bulgaria (+36.3% per year).

In value terms, Ukraine ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to Italy, comprising 41% of total imports. The second position in the ranking was taken by Hungary ($X), with a 17% share of total imports. It was followed by Bulgaria, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Ukraine totaled +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+21.6% per year) and Bulgaria (+42.9% per year).

Import Prices by Country

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, growing by 25% against the previous year. Over the period under review, the import price saw temperate growth. The most prominent rate of growth was recorded in 2021 an increase of 55%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Poland ($X per ton) and Moldova ($X per ton), while the price for Romania ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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