Middle East: Safflower Seed Market 2024

Safflower Seed Market Size in the Middle East

The Middle Eastern safflower seed market surged to $X in 2022, increasing by 40% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Safflower Seed Production in the Middle East

In value terms, safflower seed production declined to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2015 with an increase of 30% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Turkey (X tons) constituted the country with the largest volume of safflower seed production, accounting for 79% of total volume. Moreover, safflower seed production in Turkey exceeded the figures recorded by the second-largest producer, Iran (X tons), fourfold.

In Turkey, safflower seed production remained relatively stable over the period from 2012-2022.

The average safflower seed yield reached X tons per ha in 2022, increasing by 10% on 2021 figures. In general, the yield, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the yield increased by 20% against the previous year. Over the period under review, the safflower seed yield attained the peak level 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.

In 2022, the harvested area of safflower seed in the Middle East reached X ha, standing approx. at the previous year. Overall, the harvested area, however, saw a slight slump. The growth pace was the most rapid in 2013 when the harvested area increased by 57% against the previous year. The level of harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Safflower Seed Exports

Exports in the Middle East

In 2022, the amount of safflower seed exported in the Middle East skyrocketed to X tons, with an increase of 72% compared with 2021. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 450% against the previous year. Over the period under review, the exports hit record highs 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 saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 256% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) represented roughly 98% of total exports in 2022.

Turkey was also the fastest-growing in terms of the safflower seed exports, with a CAGR of +43.6% from 2012 to 2022. While the share of Turkey (+12 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest safflower seed supplier in the Middle East.

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

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 an increase of 52% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

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

Safflower Seed Imports

Imports in the Middle East

In 2022, overseas purchases of safflower seed were finally on the rise to reach X tons after five years of decline. Overall, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 237%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, safflower seed imports surged to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 233%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Turkey prevails in imports structure, recording X tons, which was near 88% of total imports in 2022. It was distantly followed by Iraq (X tons), achieving a 9.4% share of total imports.

Imports into Turkey increased at an average annual rate of +19.6% from 2012 to 2022. At the same time, Iraq (+23.9%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, 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 -6.3% from 2012 to 2022, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported safflower seed in the Middle East, comprising 89% of total imports. The second position in the ranking was taken by Iraq ($X), with a 7.5% share of total imports.

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

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, surging by 4.4% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.5% 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 +99.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 an increase of 56%. The level of import peaked in 2022 and is expected to retain 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 stood at $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

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