Scandinavia: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Scandinavia

The Scandinavia sunflower oilcake market expanded to $X in 2021, surging by 1.7% against the previous year. In general, consumption recorded a perceptible slump. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Sunflower Oilcake Production in Scandinavia

In value terms, sunflower oilcake production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 25% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Sunflower Oilcake Exports

Exports in Scandinavia

In 2021, sunflower oilcake exports in Scandinavia skyrocketed to X tons, picking up by 136% compared with the year before. Overall, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 150% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, sunflower oilcake exports soared to $X in 2021. Over the period under review, exports continue to indicate a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Denmark (X tons), together accounting for 99.9% of total export.

Denmark was also the fastest-growing in terms of the sunflower oilcake exports, with a CAGR of +14.9% from 2012 to 2021. While the share of Denmark (+22 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) also remains the largest sunflower oilcake supplier in Scandinavia.

In Denmark, sunflower oilcake exports expanded at an average annual rate of +15.6% over the period from 2012-2021.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, rising by 31% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 34%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Denmark amounted to +0.7% per year.

Sunflower Oilcake Imports

Imports in Scandinavia

In 2021, approx. X tons of sunflower oilcake were imported in Scandinavia; with a decrease of -6.8% against the previous year. Over the period under review, imports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2018 with an increase of 12% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, sunflower oilcake imports skyrocketed to $X in 2021. In general, imports recorded a noticeable curtailment. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Denmark (X tons) was the largest importer of sunflower oilcake, committing 69% of total imports. It was distantly followed by Norway (X tons) and Sweden (X tons), together creating a 30% share of total imports.

Imports into Denmark decreased at an average annual rate of -6.4% from 2012 to 2021. At the same time, Sweden (+64.1%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +64.1% from 2012-2021. By contrast, Norway (-3.3%) illustrated a downward trend over the same period. Sweden (+7.7 p.p.) and Norway (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Denmark saw its share reduced by -10.9% from 2012 to 2021, respectively.

In value terms, the largest sunflower oilcake importing markets in Scandinavia were Denmark ($X), Norway ($X) and Sweden ($X), together accounting for 99% of total imports.

In terms of the main importing countries, Sweden, with a CAGR of +57.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, picking up by 36% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sunflower oilcake import price increased by +48.2% against 2017 indices. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+5.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform