Norway: 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 Norway

After three years of growth, the Norwegian market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -7.8% to $X in 2021. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then reduced in the following year.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified dropped to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 16% against the previous year. As a result, production reached the peak level of $X, and then dropped in the following year.

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

Exports from Norway

In 2021, the amount of sunflower-seed or safflower oil, refined, but not chemically modified exported from Norway contracted markedly to X tons, waning by -16.7% against the year before. Over the period under review, exports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 84% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified reached $X in 2021. Overall, exports showed a slight setback. The growth pace was the most rapid in 2013 with an increase of 4.5%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Norway, accounting for a 62% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to the Netherlands exceeded the volume sent to the second major destination, Poland (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at +26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-14.8% per year) and Hungary (0.0% per year).

In value terms, the Netherlands ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Norway, comprising 55% of total exports. The second position in the ranking was held by Poland ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the Netherlands totaled +28.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-14.8% per year) and Hungary (0.0% per year).

Export Prices by Country

The average export price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, rising by 22% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 53%. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hungary ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+1.4%).

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

Imports into Norway

In 2021, purchases abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -11.1% to X tons for the first time since 2013, thus ending a seven-year rising trend. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 12%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2021. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to Norway, together comprising 57% of total imports. These countries were followed by Taiwan (Chinese), Belgium, Ukraine, Hungary, Turkey and France, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were in Hungary (with a CAGR of +54.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), the Netherlands ($X) and Germany ($X) constituted the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to Norway, together accounting for 57% of total imports. Taiwan (Chinese), Hungary, Ukraine, Belgium, Turkey and France lagged somewhat behind, together accounting for a further 33%.

Among the main suppliers, Hungary, with a CAGR of +61.9%, saw the highest rates of growth with regard to 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 average import price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, with an increase of 32% against the previous year. In general, the import price, however, recorded a slight setback. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Germany ($X per ton) and Sweden ($X per ton), while the price for the Netherlands ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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