SADC: Safflower Seed Market 2024

Safflower Seed Market Size in SADC

The SADC safflower seed market fell to $X in 2022, reducing by -6.8% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Safflower Seed Production in SADC

In value terms, safflower seed production shrank dramatically to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 233%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

The country with the largest volume of safflower seed production was Tanzania (X tons), accounting for 99.9% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Tanzania was relatively modest.

In 2022, the average safflower seed yield in SADC totaled X kg per ha, remaining relatively unchanged against the previous year. Overall, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by 2% against the previous year. The level of yield peaked at X kg per ha in 2017; however, from 2018 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of safflower seed production in SADC was estimated at X ha, approximately equating 2021. In general, the harvested area showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the harvested area increased by 4.2% against the previous year. The level of harvested area peaked at X ha in 2015; however, from 2016 to 2022, the harvested area stood at a somewhat lower figure.

Safflower Seed Exports

Exports in SADC

In 2022, shipments abroad of safflower seed was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 15,116%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, safflower seed exports skyrocketed to $X in 2022. Over the period under review, exports posted a significant expansion. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa (X tons) represented roughly 100% of total exports in 2022.

South Africa was also the fastest-growing in terms of the safflower seed exports, with a CAGR of +29.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest safflower seed supplier in SADC.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at +42.8%.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, increasing by 283% against the previous year. Over the period under review, the export price showed a strong increase. The growth pace was the most rapid in 2014 when the export price increased by 1,119% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to +10.2% per year.

Safflower Seed Imports

Imports in SADC

In 2022, purchases abroad of safflower seed increased by 38% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded prominent growth. The pace of growth was the most pronounced in 2016 when imports increased by 172%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, safflower seed imports surged to $X in 2022. Overall, imports recorded a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of 125% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

South Africa prevails in imports structure, recording X tons, which was near 90% of total imports in 2022. Zambia (X tons), Mozambique (X tons) and Botswana (X tons) held a minor share of total imports.

Imports into South Africa increased at an average annual rate of +10.5% from 2012 to 2022. At the same time, Zambia (+72.5%), Botswana (+56.1%) and Mozambique (+46.7%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in SADC, with a CAGR of +72.5% from 2012-2022. While the share of South Africa (+27 p.p.), Zambia (+4.3 p.p.), Mozambique (+3.6 p.p.) and Botswana (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported safflower seed in SADC, comprising 80% of total imports. The second position in the ranking was taken by Botswana ($X), with a 7.1% share of total imports. It was followed by Mozambique, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa amounted to +10.2%. In the other countries, the average annual rates were as follows: Botswana (+67.0% per year) and Mozambique (+31.1% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, rising by 24% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 54%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Botswana ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Botswana (+7.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform