Russian Federation: 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 the Russian Federation

In 2021, the Russian market for sunflower-seed or safflower oil, refined, but not chemically modified increased by 2.1% to $X, rising for the third consecutive year after three years of decline. In general, consumption showed a relatively flat trend pattern. Consumption of peaked in 2021 and is likely to see steady growth in the near future.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in the Russian Federation

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified dropped to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 24%. As a result, production reached the peak level of $X, and then dropped in the following year.

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

Exports from the Russian Federation

In 2021, after two years of growth, there was significant decline in overseas shipments of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume decreased by -33.9% to X tons. Over the period under review, exports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 29% against the previous year. The exports peaked at X tons in 2020, and then contracted notably in the following year.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified totaled $X in 2021. Overall, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +61.1% against 2018 indices. The pace of growth was the most pronounced in 2020 with an increase of 38%. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Uzbekistan (X tons), Belarus (X tons) and Kazakhstan (X tons) were the main destinations of exports of sunflower-seed or safflower oil, refined, but not chemically modified from Russia, together comprising 52% of total exports. Kyrgyzstan, Georgia, Tajikistan, Armenia, Afghanistan, Ukraine, Turkmenistan, Azerbaijan, Israel and China lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +82.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Belarus ($X) and Kazakhstan ($X) appeared to be the largest markets for sunflower-seed or safflower oil, refined, but not chemically modified exported from Russia worldwide, with a combined 51% share of total exports. Kyrgyzstan, Georgia, Tajikistan, Armenia, Afghanistan, Ukraine, Turkmenistan, Azerbaijan, Israel and China lagged somewhat behind, together accounting for a further 39%.

Among the main countries of destination, China, with a CAGR of +79.6%, 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

The average export price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, with an increase of 56% against the previous year. In general, the export price showed a relatively flat trend pattern. 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 external markets. In 2021, the highest price was recorded for prices to Afghanistan ($X per ton) and Turkmenistan ($X per ton), while the average price for exports to China ($X per ton) and Belarus ($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 Israel (+1.9%), 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 the Russian Federation

In 2021, purchases abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -30.4% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports faced a deep downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 94%. Over the period under review, imports of reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified fell to $X in 2021. In general, imports saw a abrupt setback. The growth pace was the most rapid in 2017 when imports increased by 69% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Lithuania (X tons), Belarus (X tons) and Kazakhstan (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to Russia, with a combined 87% share of total imports.

From 2012 to 2021, the biggest increases were in Kazakhstan (with a CAGR of +74.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Russia, comprising 47% of total imports. The second position in the ranking was taken by Belarus ($X), with a 24% share of total imports. It was followed by Italy, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value from Lithuania totaled -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+31.2% per year) and Italy (+7.1% per year).

Import Prices by Country

The average import price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, surging by 25% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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