Japan: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Japan

The Japanese sunflower-seed and safflower oil market reduced slightly to $X in 2022, falling by -3.6% against the previous year. In general, consumption recorded a pronounced setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Sunflower-Seed And Safflower Oil in Japan

In value terms, sunflower-seed and safflower oil production shrank modestly to $X in 2022 estimated in export price. Overall, production showed a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 156% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Sunflower-Seed And Safflower Oil

Exports from Japan

In 2022, approx. X tons of sunflower-seed and safflower oil were exported from Japan; growing by 44% on 2021 figures. Overall, exports recorded notable growth. The pace of growth was the most pronounced in 2014 with an increase of 72% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, sunflower-seed and safflower oil exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2018 with an increase of 51% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), China (X tons) and Singapore (X tons) were the main destinations of sunflower-seed and safflower oil exports from Japan, together comprising 91% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +44.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sunflower-seed and safflower oil exported from Japan were Thailand ($X), China ($X) and Singapore ($X), together accounting for 89% of total exports.

Among the main countries of destination, Singapore, with a CAGR of +39.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sunflower-seed and safflower oil export price stood at $X per ton in 2022, with an increase of 2.8% against the previous year. Over the period under review, the export price, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2013 an increase of 97%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($X per ton) and Thailand ($X per ton), while the average price for exports to Singapore ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.8%), while the prices for the other major destinations experienced a decline.

Imports of Sunflower-Seed And Safflower Oil

Imports into Japan

In 2022, overseas purchases of sunflower-seed and safflower oil decreased by -14.5% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports recorded a pronounced decrease. The growth pace was the most rapid in 2019 with an increase of 15%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, sunflower-seed and safflower oil imports reduced slightly to $X in 2022. Overall, imports recorded a pronounced downturn. The growth pace was the most rapid in 2019 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Russia (X tons), Ukraine (X tons) and Spain (X tons) were the main suppliers of sunflower-seed and safflower oil imports to Japan, together accounting for 56% of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +66.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sunflower-seed and safflower oil suppliers to Japan were Spain ($X), Russia ($X) and the United States ($X), together comprising 53% of total imports. Ukraine, Hungary, Turkey, France, Mexico and Argentina lagged somewhat behind, together accounting for a further 43%.

In terms of the main suppliers, Hungary, with a CAGR of +66.7%, saw the highest growth rate of 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 16% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 17%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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