Italy: 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 Italy

The Italian market for sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021, increasing by 39% against the previous year. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +100.4% against 2014 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +86.1% against 2018 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

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

Exports from Italy

In 2021, overseas shipments of sunflower-seed or safflower oil, refined, but not chemically modified increased by 39% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 44% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. In general, exports continue to indicate strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Italy, accounting for a 24% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Germany exceeded the volume sent to the second major destination, Cyprus (X tons), twofold. France (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+57.9% per year) and France (+9.2% per year).

In value terms, the largest markets for sunflower-seed or safflower oil, refined, but not chemically modified exported from Italy were Germany ($X), France ($X) and Cyprus ($X), together comprising 40% of total exports. Tanzania, Bangladesh, Switzerland, the Netherlands, Slovenia, the United States, Spain, the UK, Canada and Hungary lagged somewhat behind, together accounting for a further 36%.

Tanzania, with a CAGR of +126.6%, recorded the highest rates of growth with regard to 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 sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, with an increase of 17% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Hungary ($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 Bangladesh (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Italy

In 2021, supplies from abroad of sunflower-seed or safflower oil, refined, but not chemically modified increased by 56% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports showed strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 110%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. Overall, imports recorded a buoyant increase. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Hungary (X tons) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Italy, with a 24% share of total imports. Moreover, imports of sunflower-seed or safflower oil, refined, but not chemically modified from Hungary exceeded the figures recorded by the second-largest supplier, Croatia (X tons), twofold. The third position in this ranking was taken by Ukraine (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Hungary stood at +32.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+29.1% per year) and Ukraine (+3.5% per year).

In value terms, Hungary ($X) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Italy, comprising 24% of total imports. The second position in the ranking was held by Croatia ($X), with an 11% share of total imports. It was followed by Slovenia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Hungary amounted to +34.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+35.0% per year) and Slovenia (+171.9% 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, growing by 30% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Germany ($X per ton) and Belgium ($X per ton), while the price for Ukraine ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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