Romania: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Romania

In 2022, the Romanian sunflower-seed and safflower oil market decreased by -7.5% to $X, falling for the second year in a row after two years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. Sunflower-seed and safflower oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Sunflower-Seed And Safflower Oil in Romania

In value terms, sunflower-seed and safflower oil production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 17% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Sunflower-Seed And Safflower Oil

Exports from Romania

In 2022, overseas shipments of sunflower-seed and safflower oil increased by 50% to X tons, rising for the second year in a row after two years of decline. Overall, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.9% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sunflower-seed and safflower oil exports skyrocketed to $X in 2022. In general, exports continue to indicate prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons), Bulgaria (X tons) and the Netherlands (X tons) were the main destinations of sunflower-seed and safflower oil exports from Romania, with a combined 44% share of total exports. France, Italy, Iran, India, Poland, Hungary, South Africa, Germany, Morocco and Portugal lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +317.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sunflower-seed and safflower oil exported from Romania were Spain ($X), Bulgaria ($X) and France ($X), with a combined 42% share of total exports. The Netherlands, Italy, Iran, Poland, India, Hungary, Morocco, South Africa, Germany and Portugal lagged somewhat behind, together comprising a further 47%.

Portugal, with a CAGR of +311.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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 sunflower-seed and safflower oil export price amounted to $X per ton, growing by 28% against the previous year. Over the period under review, the export price enjoyed temperate growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 50%. The export price peaked in 2022 and is likely to continue growth in years to come.

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 Morocco ($X per ton), while the average price for exports to Portugal ($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 Morocco (+34.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Romania

In 2022, the amount of sunflower-seed and safflower oil imported into Romania soared to X tons, picking up by 174% on the previous year. Overall, imports saw a modest expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sunflower-seed and safflower oil imports surged to $X in 2022. Over the period under review, imports posted a moderate increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest sunflower-seed and safflower oil supplier to Romania, with a 45% share of total imports. Moreover, sunflower-seed and safflower oil imports from Ukraine exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), twofold. The third position in this ranking was taken by Moldova (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine stood at +29.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+5.6% per year) and Moldova (+3.6% per year).

In value terms, the largest sunflower-seed and safflower oil suppliers to Romania were Ukraine ($X), Bulgaria ($X) and Moldova ($X), together accounting for 81% of total imports.

Ukraine, with a CAGR of +32.9%, saw the highest growth rate of the value of imports, among 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 sunflower-seed and safflower oil import price stood at $X per ton in 2022, growing by 17% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.1% 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 +100.2% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 54%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Bulgaria ($X per ton) and the Netherlands ($X per ton), while the price for Hungary ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Moldova (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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