Northern America: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Northern America

The North American market for crude sunflower-seed and safflower oil skyrocketed to $X in 2022, rising by 18% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in the near future.

Production of Crude Sunflower-Seed And Safflower Oil in Northern America

In value terms, crude sunflower-seed and safflower oil production rose slightly to $X in 2022 estimated in export price. In general, production, however, showed a slight decrease. The pace of growth was the most pronounced in 2015 with an increase of 34%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports in Northern America

In 2022, overseas shipments of crude sunflower-seed and safflower oil decreased by -53.8% to X tons, falling for the third year in a row after three years of growth. Overall, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of 67%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil exports shrank notably to $X in 2022. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 62%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States prevails in exports structure, reaching X tons, which was approx. 96% of total exports in 2022. Canada (X tons) took a relatively small share of total exports.

Exports from the United States decreased at an average annual rate of -12.2% from 2012 to 2022. Canada (-7.3%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest crude sunflower-seed and safflower oil supplier in Northern America, comprising 91% of total exports. The second position in the ranking was held by Canada ($X), with an 8.6% share of total exports.

In the United States, crude sunflower-seed and safflower oil exports decreased by an average annual rate of -12.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, jumping by 21% against the previous year. In general, 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 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+20.1%).

Imports of Crude Sunflower-Seed And Safflower Oil

Imports in Northern America

In 2022, the amount of crude sunflower-seed and safflower oil imported in Northern America skyrocketed to X tons, increasing by 63% against 2021 figures. In general, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 151% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 123% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

The United States dominates imports structure, finishing at X tons, which was approx. 96% of total imports in 2022. Canada (X tons) took a relatively small share of total imports.

Imports into the United States increased at an average annual rate of +5.9% from 2012 to 2022. At the same time, Canada (+18.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +18.4% from 2012-2022. From 2012 to 2022, the share of Canada increased by +2.5 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported crude sunflower-seed and safflower oil in Northern America, comprising 98% of total imports. The second position in the ranking was held by Canada ($X), with a 1.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +5.4%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, picking up by 3.1% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 19% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :