Southern Asia: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Southern Asia

The South Asian sunflower-seed and safflower oil market soared to $X in 2022, rising by 17% against the previous year. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +68.7% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Sunflower-Seed And Safflower Oil in Southern Asia

In value terms, sunflower-seed and safflower oil production expanded to $X in 2022 estimated in export price. In general, production, however, faced a deep downturn. The growth pace was the most rapid in 2013 when the production volume increased by 15%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Sunflower-Seed And Safflower Oil

Exports in Southern Asia

In 2022, exports of sunflower-seed and safflower oil in Southern Asia skyrocketed to X tons, increasing by 235% on the previous year's figure. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sunflower-seed and safflower oil exports surged to $X in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India was the key exporter of sunflower-seed and safflower oil in Southern Asia, with the volume of exports recording X tons, which was near 83% of total exports in 2022. It was distantly followed by Nepal (X tons), achieving a 16% share of total exports.

India was also the fastest-growing in terms of the sunflower-seed and safflower oil exports, with a CAGR of +22.3% from 2012 to 2022. At the same time, Nepal (+17.4%) displayed positive paces of growth. While the share of Nepal (+16 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-15.8 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest sunflower-seed and safflower oil supplier in Southern Asia, comprising 91% of total exports. The second position in the ranking was taken by Nepal ($X), with a 9.1% share of total exports.

In India, sunflower-seed and safflower oil exports increased at an average annual rate of +22.8% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, picking up by 4.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 38% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Nepal totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+3.4%).

Imports of Sunflower-Seed And Safflower Oil

Imports in Southern Asia

Sunflower-seed and safflower oil imports totaled X tons in 2022, picking up by 5.5% on the previous year's figure. Overall, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 49% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil imports soared to $X in 2022. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 41%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

India dominates imports structure, amounting to X tons, which was approx. 95% of total imports in 2022. Afghanistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sunflower-seed and safflower oil imports into India stood at +5.9%. At the same time, Afghanistan (+14.1%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +14.1% from 2012-2022. Afghanistan (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported sunflower-seed and safflower oil in Southern Asia, comprising 97% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a 2.1% share of total imports.

In India, sunflower-seed and safflower oil imports increased at an average annual rate of +8.7% over the period from 2012-2022.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, increasing by 18% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil import price increased by +110.3% against 2019 indices. The growth pace was the most rapid in 2021 when the import price increased by 59%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 India ($X per ton), while Afghanistan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.6%).

Source: IndexBox Platform

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