Middle East: 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 the Middle East

For the fourth year in a row, the Middle Eastern market for sunflower-seed or safflower oil, refined, but not chemically modified recorded growth in sales value, which increased by 1.9% to $X in 2021. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the market value increased by 9.4%. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in the Middle East

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified dropped to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 8.2% against the previous year. Over the period under review, production of attained the maximum level at $X in 2020, and then shrank modestly in the following year.

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

Exports in the Middle East

After two years of growth, shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -18% to X tons in 2021. Total exports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +15.9% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 71%. As a result, the exports reached the peak of X tons. From 2015 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 skyrocketed to $X in 2021. Total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.6% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 42% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Turkey dominates modified structure, reaching X tons, which was approx. 84% of total exports in 2021. Oman (X tons) held the second position in the ranking, followed by Saudi Arabia (X tons). All these countries together took approx. 13% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the sunflower-seed or safflower oil, refined, but not chemically modified exports, with a CAGR of +6.5% from 2012 to 2021. At the same time, Saudi Arabia (+1.6%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-15.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey increased by +15 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest sunflower-seed or safflower oil, refined, but not chemically modified supplier in the Middle East, comprising 85% of total exports. The second position in the ranking was held by Oman ($X), with a 6.4% share of total exports. It was followed by Saudi Arabia, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at +6.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (-2.9% per year) and Saudi Arabia (+0.2% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, surging by 49% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Saudi Arabia ($X per ton), while Oman ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.0%), while the other leaders experienced a decline in the export price figures.

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

Imports in the Middle East

Imports of sunflower-seed or safflower oil, refined, but not chemically modified declined to X tons in 2021, which is down by -6.6% on the previous year. Over the period under review, imports, however, posted moderate growth. The pace of growth appeared the most rapid in 2014 when imports increased by 77%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2021. Total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +41.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 45%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Yemen (X tons) and Syrian Arab Republic (X tons) were the major importers of sunflower-seed or safflower oil, refined, but not chemically modified in 2021, reaching near 20% and 19% of total imports, respectively. The United Arab Emirates (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Jordan (10%), Israel (8%), Lebanon (7.6%) and Iraq (6.8%).

From 2012 to 2021, the biggest increases were in Yemen (with a CAGR of +33.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Yemen ($X), Syrian Arab Republic ($X) and Jordan ($X) constituted the countries with the highest levels of imports in 2021, with a combined 49% share of total imports.

In terms of the main importing countries, Yemen, with a CAGR of +33.0%, recorded 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 2021, the import price in the Middle East amounted to $X per ton, picking up by 47% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices attained the maximum 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 Jordan ($X per ton) and Lebanon ($X per ton), while Yemen ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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