Pakistan: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Pakistan

The Pakistani sunflower-seed and safflower oil market expanded to $X in 2022, growing by 3.5% against the previous year. In general, consumption, however, showed a deep downturn. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Sunflower-Seed And Safflower Oil in Pakistan

In value terms, sunflower-seed and safflower oil production expanded modestly to $X in 2022 estimated in export price. In general, production, however, saw a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 57%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Sunflower-Seed And Safflower Oil

Exports from Pakistan

In 2022, the amount of sunflower-seed and safflower oil exported from Pakistan fell sharply to X tons, shrinking by -30.4% on the previous year. Overall, exports recorded a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 1,132% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, sunflower-seed and safflower oil exports contracted remarkably to $X in 2022. Over the period under review, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 1,289% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), Kyrgyzstan (X kg) and the United States (X kg) were the main destinations of sunflower-seed and safflower oil exports from Pakistan, with a combined 70% share of total exports. Australia, Canada, Germany, Tanzania and South Africa lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +108.4%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the key foreign market for sunflower-seed and safflower oil exports from Pakistan, comprising 34% of total exports. The second position in the ranking was held by the United States ($X), with a 16% share of total exports. It was followed by Australia, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to the UK totaled +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+0.9% per year) and Australia (+23.7% per year).

Export Prices by Country

In 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, dropping by -6.5% against the previous year. Overall, the export price, however, posted perceptible growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 104%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+28.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Pakistan

In 2022, supplies from abroad of sunflower-seed and safflower oil decreased by -4.1% to X tons, falling for the second year in a row after two years of growth. In general, imports saw a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 213%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sunflower-seed and safflower oil imports expanded modestly to $X in 2022. Overall, imports saw a deep contraction. The pace of growth was the most pronounced in 2017 when imports increased by 204%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), Iran (X tons) and Saudi Arabia (X tons) were the main suppliers of sunflower-seed and safflower oil imports to Pakistan, together comprising 70% of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +34.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sunflower-seed and safflower oil suppliers to Pakistan were the United Arab Emirates ($X), Iran ($X) and Saudi Arabia ($X), with a combined 66% share of total imports.

Among the main suppliers, Saudi Arabia, with a CAGR of +48.6%, 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

The average sunflower-seed and safflower oil import price stood at $X per ton in 2022, increasing by 9.4% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil import price increased by +15.7% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the average import price increased by 27% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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