Romania: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Romania

After five years of growth, the Romanian market for crude sunflower-seed and safflower oil decreased by -17.2% to $X in 2022. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Crude Sunflower-Seed And Safflower Oil in Romania

In value terms, crude sunflower-seed and safflower oil production declined modestly to $X in 2022 estimated in export price. In general, production showed a perceptible contraction. The growth pace was the most rapid in 2017 when the production volume increased by 28% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Romania

In 2022, overseas shipments of crude sunflower-seed and safflower oil were finally on the rise to reach X tons after three years of decline. Over the period under review, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil exports skyrocketed to $X in 2022. Overall, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for crude sunflower-seed and safflower oil exports from Romania, with a 26% share of total exports. Moreover, crude sunflower-seed and safflower oil exports to Spain exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. The third position in this ranking was taken by France (X tons), with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+49.8% per year) and France (+14.3% per year).

In value terms, the largest markets for crude sunflower-seed and safflower oil exported from Romania were Spain ($X), France ($X) and the Netherlands ($X), with a combined 51% share of total exports. Iran, Italy, Bulgaria, India, South Africa and Hungary lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, India, with a CAGR of +50.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, growing by 30% against the previous year. Over the period under review, the export price continues to indicate perceptible growth. The pace of growth appeared the most rapid in 2021 when the average export price increased by 60%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to India ($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 Iran (+25.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Romania

Crude sunflower-seed and safflower oil imports into Romania skyrocketed to X tons in 2022, increasing by 128% on the previous year's figure. In general, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 when imports increased by 138% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, crude sunflower-seed and safflower oil imports soared to $X in 2022. Overall, imports saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 179% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest crude sunflower-seed and safflower oil supplier to Romania, with a 48% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Ukraine exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), twofold. Hungary (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2022, the average annual growth rate of volume from Ukraine stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+11.7% per year) and Hungary (+0.0% per year).

In value terms, Ukraine ($X), Bulgaria ($X) and Hungary ($X) were the largest crude sunflower-seed and safflower oil suppliers to Romania, together comprising 90% of total imports.

Among the main suppliers, Ukraine, with a CAGR of +18.5%, recorded 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 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, jumping by 18% against the previous year. In general, the import price showed a noticeable increase. The most prominent rate of growth was recorded in 2021 an increase of 66%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

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 Bulgaria ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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