Portugal: 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 Portugal

The Portuguese market for sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2021, growing by 118% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a deep reduction. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

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

Exports from Portugal

In 2021, exports of sunflower-seed or safflower oil, refined, but not chemically modified from Portugal totaled X tons, almost unchanged from 2020 figures. Over the period under review, exports, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 65% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2021. In general, exports, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 60% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Portugal, with a 54% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Spain exceeded the volume sent to the second major destination, Seychelles (X tons), fourfold. France (X tons) ranked third in terms of total exports with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume to Spain stood at -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (+17.8% per year) and France (+28.2% per year).

In value terms, Spain ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Portugal, comprising 55% of total exports. The second position in the ranking was held by Seychelles ($X), with a 16% share of total exports. It was followed by France, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to Spain totaled -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (+17.9% per year) and France (+21.2% per year).

Export Prices by Country

In 2021, the average export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, jumping by 40% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably country of destination: the country with the highest price was South Africa ($X per ton), while the average price for exports to France ($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 South Africa (+7.1%), 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 Portugal

In 2021, after two years of decline, there was significant growth in purchases abroad of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume increased by 43% to X tons. Over the period under review, imports posted a buoyant expansion. Over the period under review, imports of reached the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

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

Imports by Country

In 2021, Spain (X tons) constituted the largest sunflower-seed or safflower oil, refined, but not chemically modified supplier to Portugal, accounting for a 82% share of total imports. Moreover, imports of sunflower-seed or safflower oil, refined, but not chemically modified from Spain exceeded the figures recorded by the second-largest supplier, Romania (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +3.6%.

In value terms, Spain ($X) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Portugal, comprising 81% of total imports. The second position in the ranking was taken by Romania ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +4.0%.

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, jumping by 29% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Romania ($X per ton), while the price for Spain stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+0.4%).

Source: IndexBox Platform

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