MERCOSUR: 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 MERCOSUR

The MERCOSUR market for sunflower-seed or safflower oil, refined, but not chemically modified plummeted to $X in 2021, shrinking by -16.1% against the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then declined markedly in the following year.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified plummeted to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 67%. As a result, production attained the peak level of $X, and then dropped sharply in the following year.

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

Exports in MERCOSUR

In 2021, shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -15.8% to X tons, falling for the fourth consecutive year after two years of growth. Overall, exports, however, saw slight growth. The pace of growth appeared the most rapid in 2017 with an increase of 152% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 127%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Argentina dominates modified structure, amounting to X tons, which was near 96% of total exports in 2021. Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to sunflower-seed or safflower oil, refined, but not chemically modified exports from Argentina stood at +1.1%. At the same time, Ecuador (+52.3%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +52.3% from 2012-2021. Ecuador (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by -2% from 2012 to 2021, respectively.

In value terms, Argentina ($X) remains the largest sunflower-seed or safflower oil, refined, but not chemically modified supplier in MERCOSUR, comprising 96% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 1.6% share of total exports.

In Argentina, exports of sunflower-seed or safflower oil, refined, but not chemically modified remained relatively stable over the period from 2012-2021.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, picking up by 44% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Argentina ($X per ton), while Ecuador totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-0.4%).

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

Imports in MERCOSUR

In 2021, purchases abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -8% to X tons, falling for the fourth consecutive year after two years of growth. Overall, imports, however, recorded resilient growth. The pace of growth was the most pronounced in 2016 when imports increased by 86% against the previous year. Over the period under review, imports of hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 70%. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Chile was the major importing country with an import of about X tons, which resulted at 56% of total imports. It was distantly followed by Colombia (X tons), Paraguay (X tons), Suriname (X tons), Peru (X tons) and Venezuela (X tons), together generating a 34% share of total imports. Brazil (X tons) followed a long way behind the leaders.

Imports into Chile increased at an average annual rate of +15.8% from 2012 to 2021. At the same time, Venezuela (+72.3%), Brazil (+17.0%), Suriname (+16.0%), Peru (+13.8%) and Paraguay (+5.9%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +72.3% from 2012-2021. By contrast, Colombia (-7.1%) illustrated a downward trend over the same period. Chile (+23 p.p.), Venezuela (+4.8 p.p.), Suriname (+2.6 p.p.), Brazil (+1.8 p.p.) and Peru (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Paraguay and Colombia saw its share reduced by -2.2% and -33.9% from 2012 to 2021, respectively.

In value terms, Chile ($X) constitutes the largest market for imported sunflower-seed or safflower oil, refined, but not chemically modified in MERCOSUR, comprising 56% of total imports. The second position in the ranking was held by Colombia ($X), with a 10% share of total imports. It was followed by Paraguay, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Chile totaled +15.4%. In the other countries, the average annual rates were as follows: Colombia (-7.2% per year) and Paraguay (+6.0% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, with an increase of 43% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Suriname ($X per ton) and Paraguay ($X per ton), while Peru ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Suriname (+0.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform