Romania: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Romania

For the fourth consecutive year, the Romanian sunflower oilcake market recorded growth in sales value, which increased by 3.5% to $X in 2021. Overall, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.0% 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 +3.6% against 2016 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in years to come.

Sunflower Oilcake Production in Romania

In value terms, sunflower oilcake production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 32%. Sunflower oilcake production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Sunflower Oilcake Exports

Exports from Romania

In 2021, shipments abroad of sunflower oilcake decreased by -8% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, total exports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -33.5% against 2018 indices. The pace of growth was the most pronounced in 2017 with an increase of 64%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, sunflower oilcake exports skyrocketed to $X in 2021. Overall, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when exports increased by 79%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Morocco (X tons), Israel (X tons) and France (X tons) were the main destinations of sunflower oilcake exports from Romania, with a combined 51% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +41.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sunflower oilcake exported from Romania were Morocco ($X), France ($X) and Israel ($X), together comprising 48% of total exports.

Morocco, with a CAGR of +48.0%, saw the highest rates of growth with regard to the value of exports, among 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

The average sunflower oilcake export price stood at $X per ton in 2021, jumping by 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2021, the countries with the highest prices were Germany ($X per ton) and France ($X per ton), while the average price for exports to Bulgaria ($X per ton) and Morocco ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Oilcake Imports

Imports into Romania

In 2021, overseas purchases of sunflower oilcake decreased by -65.3% to X tons, falling for the third consecutive year after two years of growth. In general, imports, however, showed strong growth. The growth pace was the most rapid in 2017 with an increase of 181% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, sunflower oilcake imports contracted significantly to $X in 2021. Overall, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 169% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Bulgaria (X tons) constituted the largest supplier of sunflower oilcake to Romania, accounting for a 84% share of total imports. Moreover, sunflower oilcake imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Hungary (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume from Bulgaria totaled +28.1%.

In value terms, Bulgaria ($X) constituted the largest supplier of sunflower oilcake to Romania, comprising 78% of total imports. The second position in the ranking was taken by Hungary ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Bulgaria totaled +23.1%.

Import Prices by Country

The average sunflower oilcake import price stood at $X per ton in 2021, picking up by 43% against the previous year. In general, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sunflower oilcake import price increased by +68.8% against 2017 indices. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Hungary ($X per ton), while the price for Bulgaria amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+10.3%).

Source: IndexBox Platform

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