MENA: Safflower Seed Market 2024

Safflower Seed Market Size in MENA

The MENA's safflower seed market surged to $X in 2022, growing by 40% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Safflower Seed Production in MENA

In value terms, safflower seed production contracted to $X in 2022 estimated in export price. Overall, production, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2015 when the production volume increased by 29% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

The country with the largest volume of safflower seed production was Turkey (X tons), accounting for 77% of total volume. Moreover, safflower seed production in Turkey exceeded the figures recorded by the second-largest producer, Iran (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Turkey was relatively modest. In the other countries, the average annual rates were as follows: Iran (-6.4% per year) and Egypt (+24.0% per year).

In 2022, the average safflower seed yield in MENA was estimated at X tons per ha, growing by 10% against the year before. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by 20%. The level of yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The safflower seed harvested area was estimated at X ha in 2022, therefore, remained relatively stable against the previous year. In general, the harvested area, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2013 when the harvested area increased by 57% against the previous year. Over the period under review, the harvested area dedicated to safflower seed production reached the maximum at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Safflower Seed Exports

Exports in MENA

In 2022, the amount of safflower seed exported in MENA skyrocketed to X tons, increasing by 64% compared with 2021. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 450% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, safflower seed exports soared to $X in 2022. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 256%. The level of export peaked at $X in 2019; afterwards, it flattened through to 2022.

Exports by Country

Turkey dominates exports structure, amounting to X tons, which was approx. 94% of total exports in 2022. Egypt (X tons) held a minor share of total exports.

Turkey was also the fastest-growing in terms of the safflower seed exports, with a CAGR of +43.6% from 2012 to 2022. At the same time, Egypt (+18.7%) displayed positive paces of growth. From 2012 to 2022, the share of Turkey and Egypt increased by +8.1 and +4.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest safflower seed supplier in MENA, comprising 85% of total exports. The second position in the ranking was taken by Egypt ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +38.7%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, falling by -2.8% against the previous year. Overall, the export price saw a deep contraction. The pace of growth appeared the most rapid in 2019 when the export price increased by 48%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (-1.9%).

Safflower Seed Imports

Imports in MENA

In 2022, supplies from abroad of safflower seed was finally on the rise to reach X tons after five years of decline. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 236%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, safflower seed imports soared to $X in 2022. Overall, imports saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 221% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey dominates imports structure, reaching X tons, which was approx. 88% of total imports in 2022. It was distantly followed by Iraq (X tons), making up a 9.3% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to safflower seed imports into Turkey stood at +19.6%. At the same time, Iraq (+23.9%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of +23.9% from 2012-2022. Turkey (+88 p.p.) significantly strengthened its position in terms of the total imports, while Iraq saw its share reduced by -6.2% from 2012 to 2022, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported safflower seed in MENA, comprising 88% of total imports. The second position in the ranking was taken by Iraq ($X), with a 7.4% share of total imports.

In Turkey, safflower seed imports increased at an average annual rate of +22.1% over the period from 2012-2022.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, rising by 4% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, safflower seed import price increased by +96.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 54% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Iraq amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.0%).

Source: IndexBox Platform