Pakistan: 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 Pakistan

In 2021, after three years of growth, there was significant decline in the Pakistani market for sunflower-seed or safflower oil, refined, but not chemically modified, when its value decreased by -8.1% to $X. In general, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +44.7% against 2017 indices. As a result, consumption attained the peak level of $X, and then shrank in the following year.

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

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, the total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +47.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 21%. As a result, production reached the peak level of $X, and then shrank in the following year.

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

Exports from Pakistan

Exports of sunflower-seed or safflower oil, refined, but not chemically modified from Pakistan skyrocketed to X tons in 2021, jumping by 316% on the year before. Over the period under review, exports continue to indicate a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2021. In general, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Pakistan, accounting for a 78% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to the UK exceeded the volume sent to the second major destination, Germany (X kg), ninefold. The third position in this ranking was taken by Tanzania (X kg), with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume to the UK stood at +36.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+30.1% per year) and Tanzania (-20.4% per year).

In value terms, the UK ($X) emerged as the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Pakistan, comprising 84% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.9% share of total exports. It was followed by Tanzania, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +45.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+37.1% per year) and Tanzania (-20.2% 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, jumping by 48% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -18.1% against 2019 indices. The pace of growth appeared the most rapid in 2019 an increase of 105% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Tanzania ($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 United States (+21.3%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Pakistan

In 2021, after two years of growth, there was significant decline in overseas purchases of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume decreased by -42.3% to X tons. Overall, imports showed a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of 202% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified dropped significantly to $X in 2021. Over the period under review, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 201%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Iran (X tons) and Saudi Arabia (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to Pakistan, with a combined 69% share of total imports.

From 2012 to 2021, the biggest increases were in Saudi Arabia (with a CAGR of +31.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to Pakistan were the United Arab Emirates ($X), Iran ($X) and Saudi Arabia ($X), together comprising 65% of total imports.

Saudi Arabia, with a CAGR of +49.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, almost unchanged from the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for sunflower-seed or safflower oil, refined, but not chemically modified increased by +2.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 29%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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