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

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

The MERCOSUR market for crude sunflower-seed and safflower oil reduced rapidly to $X in 2022, declining by -41.8% against the previous year. In general, consumption saw a perceptible reduction. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped dramatically in the following year.

Production of Crude Sunflower-Seed And Safflower Oil in MERCOSUR

In value terms, crude sunflower-seed and safflower oil production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports in MERCOSUR

After two years of decline, overseas shipments of crude sunflower-seed and safflower oil increased by 395% to X tons in 2022. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports soared to $X in 2022. Overall, exports saw a pronounced expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Argentina (X tons) was the key exporter of crude sunflower-seed and safflower oil in MERCOSUR, making up 99% of total export.

Argentina experienced a relatively flat trend pattern with regard to volume of exports of crude sunflower-seed and safflower oil. From 2012 to 2022, the share of Argentina increased by +3.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) also remains the largest crude sunflower-seed and safflower oil supplier in MERCOSUR.

From 2012 to 2022, the average annual growth rate of value in Argentina stood at +3.4%.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, rising by 46% against the previous year. Overall, the export price recorded a moderate expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Argentina.

From 2012 to 2022, the rate of growth in terms of prices for Argentina amounted to +3.4% per year.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports in MERCOSUR

In 2022, overseas purchases of crude sunflower-seed and safflower oil decreased by -21.4% to X tons for the first time since 2015, thus ending a six-year rising trend. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 40%. The volume of import peaked at X tons in 2021, and then declined rapidly in the following year.

In value terms, crude sunflower-seed and safflower oil imports dropped significantly to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 51% against the previous year. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2022, Ecuador (X tons), Colombia (X tons), Brazil (X tons) and Chile (X tons) represented the key importer of crude sunflower-seed and safflower oil in MERCOSUR, mixing up 91% of total import. It was distantly followed by Uruguay (X tons), comprising an 8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of +13.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Ecuador ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 71% share of total imports. Colombia and Uruguay lagged somewhat behind, together comprising a further 28%.

Uruguay, with a CAGR of +15.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, increasing by 4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 50%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform