Slovakia: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2025

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Slovakia

The Slovak market for sunflower-seed or safflower oil, refined, but not chemically modified declined sharply to $X in 2021, dropping by -26.1% against the previous year. In general, consumption, however, saw buoyant growth. Consumption of peaked at $X in 2020, and then shrank rapidly in the following year.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Slovakia

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified shrank markedly to $X in 2021 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +32.6% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 52%. As a result, production attained the peak level of $X, and then plummeted in the following year.

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

Exports from Slovakia

In 2021, the amount of sunflower-seed or safflower oil, refined, but not chemically modified exported from Slovakia soared to X tons, increasing by 416% on 2020 figures. Overall, exports enjoyed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. Over the period under review, exports continue to indicate a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Slovakia, with a 82% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Greece exceeded the volume sent to the second major destination, Lithuania (X tons), more than tenfold. The third position in this ranking was taken by the Czech Republic (X tons), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume to Greece amounted to +402.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+30.0% per year) and the Czech Republic (-9.4% per year).

In value terms, Greece ($X) emerged as the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Slovakia, comprising 81% of total exports. The second position in the ranking was held by Italy ($X), with a 5.6% share of total exports. It was followed by Lithuania, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to Greece amounted to +376.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-0.3% per year) and Lithuania (+29.3% per year).

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, jumping by 27% against the previous year. In general, the export price, however, recorded a slight downturn. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, the countries with the highest prices were Italy ($X per ton) and Hungary ($X per ton), while the average price for exports to Lithuania ($X per ton) and Greece ($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 Italy (+5.4%), while the prices for the other major destinations experienced a decline.

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

Imports into Slovakia

Imports of sunflower-seed or safflower oil, refined, but not chemically modified into Slovakia soared to X tons in 2021, with an increase of 25% on the previous year's figure. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +21.2% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of 42% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. In general, imports recorded a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hungary (X tons), Ukraine (X tons) and the Czech Republic (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to Slovakia, together accounting for 91% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +24.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to Slovakia were Hungary ($X), Ukraine ($X) and the Czech Republic ($X), with a combined 91% share of total imports.

Ukraine, with a CAGR of +25.3%, 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 import price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, rising by 37% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were the Czech Republic ($X per ton) and Ukraine ($X per ton), while the price for Romania ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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