South Africa: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in South Africa

The South African market for crude sunflower-seed and safflower oil surged to $X in 2022, rising by 32% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Crude sunflower-seed and safflower oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Crude Sunflower-Seed And Safflower Oil in South Africa

In value terms, crude sunflower-seed and safflower oil production rose markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +28.8% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 104%. Crude sunflower-seed and safflower oil production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from South Africa

In 2022, exports of crude sunflower-seed and safflower oil from South Africa soared to X tons, rising by 181% compared with the previous year. Overall, exports enjoyed a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil exports soared to $X in 2022. Over the period under review, exports enjoyed a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons), the Netherlands (X tons) and Spain (X tons) were the main destinations of crude sunflower-seed and safflower oil exports from South Africa, together accounting for 62% of total exports. Lesotho, Mozambique, Namibia, Malaysia, Botswana, Zambia and Zimbabwe lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +69,589.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for crude sunflower-seed and safflower oil exports from South Africa, comprising 44% of total exports. The second position in the ranking was held by Spain ($X), with a 15% share of total exports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +2,535.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (0.0% per year) and the Netherlands (+405.8% per year).

Export Prices by Country

In 2022, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, surging by 72% against the previous year. Overall, the export price enjoyed a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Lesotho ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into South Africa

In 2022, supplies from abroad of crude sunflower-seed and safflower oil increased by 134% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a mild reduction. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil imports skyrocketed to $X in 2022. In general, imports showed slight growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Bulgaria (X tons) constituted the largest crude sunflower-seed and safflower oil supplier to South Africa, with a 60% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Romania (X tons), threefold. The third position in this ranking was held by Argentina (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bulgaria amounted to +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+20.9% per year) and Argentina (-17.4% per year).

In value terms, Bulgaria ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to South Africa, comprising 58% of total imports. The second position in the ranking was taken by Romania ($X), with a 22% share of total imports. It was followed by Argentina, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Bulgaria amounted to +30.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+29.0% per year) and Argentina (-16.3% per year).

Import Prices by Country

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, jumping by 30% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude sunflower-seed and safflower oil import price increased by +123.9% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 45%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mauritius ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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