Italy: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Italy

The Italian sunflower-seed and safflower oil market skyrocketed to $X in 2022, growing by 29% against the previous year. Over the period under review, consumption enjoyed a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Sunflower-Seed And Safflower Oil in Italy

In value terms, sunflower-seed and safflower oil production stood at $X in 2022 estimated in export price. Overall, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 82% against the previous year. Over the period under review, production attained the maximum level in 2022 and is likely to see gradual growth in years to come.

Exports of Sunflower-Seed And Safflower Oil

Exports from Italy

In 2022, approx. X tons of sunflower-seed and safflower oil were exported from Italy; picking up by 46% compared with 2021 figures. Overall, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +105.0% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sunflower-seed and safflower oil exports skyrocketed to $X in 2022. In general, exports posted buoyant 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), Spain (X tons) and the Netherlands (X tons) were the main destinations of sunflower-seed and safflower oil exports from Italy, with a combined 42% share of total exports. France, Austria, Cyprus, Belgium, the United States, Tanzania, Greece, Switzerland, Mexico and the UK lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +113.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and France ($X) were the largest markets for sunflower-seed and safflower oil exported from Italy worldwide, together comprising 41% of total exports. The Netherlands, the United States, Austria, Belgium, Tanzania, Cyprus, Switzerland, the UK, Greece and Mexico lagged somewhat behind, together accounting for a further 40%.

Mexico, with a CAGR of +112.0%, saw the highest growth rate of the value of exports, among 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

In 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, increasing by 25% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 export price increased by +68.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 34% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico ($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 (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Italy

In 2022, supplies from abroad of sunflower-seed and safflower oil was finally on the rise to reach X tons after two years of decline. Overall, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 43%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, sunflower-seed and safflower oil imports surged to $X in 2022. In general, imports saw a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 46% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest sunflower-seed and safflower oil supplier to Italy, accounting for a 40% share of total imports. Moreover, sunflower-seed and safflower oil imports from Ukraine exceeded the figures recorded by the second-largest supplier, Hungary (X tons), twofold. The third position in this ranking was held 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 +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+18.5% per year) and Bulgaria (+37.1% per year).

In value terms, Ukraine ($X) constituted the largest supplier of sunflower-seed and safflower oil to Italy, comprising 37% of total imports. The second position in the ranking was held by Hungary ($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 +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+22.2% per year) and Bulgaria (+44.4% per year).

Import Prices by Country

In 2022, the average sunflower-seed and safflower oil import price amounted to $X per ton, rising by 26% against the previous year. In general, the import price continues to indicate a measured expansion. The growth pace was the most rapid in 2021 when the average import price increased by 53% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Croatia ($X per ton) and Germany ($X per ton), while the price for France ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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