Southern Asia: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Southern Asia

In 2021, after four years of growth, there was decline in the South Asian sunflower oilcake market, when its value decreased by -1.4% to $X. The market value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then fell modestly in the following year.

Sunflower Oilcake Production in Southern Asia

In value terms, sunflower oilcake production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. The level of production peaked at $X in 2020, and then contracted modestly in the following year.

Sunflower Oilcake Exports

Exports in Southern Asia

In 2021, shipments abroad of sunflower oilcake increased by 15% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2018 with an increase of 87%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, sunflower oilcake exports rose rapidly to $X in 2021. In general, exports, however, faced a abrupt decline. The growth pace was the most rapid in 2018 when exports increased by 77% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

India (X tons) and Nepal (X tons) prevails in exports structure, together constituting 95% of total exports. It was distantly followed by Pakistan (X tons), constituting a 4.5% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Nepal (with a CAGR of -8.1%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, India ($X) remains the largest sunflower oilcake supplier in Southern Asia, comprising 64% of total exports. The second position in the ranking was taken by Nepal ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at -17.4%. In the other countries, the average annual rates were as follows: Nepal (-13.7% per year) and Pakistan (-29.3% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, waning by -2.8% against the previous year. Overall, the export price saw a perceptible downturn. The most prominent rate of growth was recorded in 2020 when the export price increased by 4.8% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+0.7%), while the other leaders experienced a decline in the export price figures.

Sunflower Oilcake Imports

Imports in Southern Asia

In 2021, after two years of growth, there was significant decline in purchases abroad of sunflower oilcake, when their volume decreased by -29.7% to X tons. In general, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 176% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sunflower oilcake imports fell slightly to $X in 2021. Over the period under review, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 353% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

India prevails in imports structure, reaching X tons, which was approx. 97% of total imports in 2021. Bangladesh (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to sunflower oilcake imports into India stood at +16.5%. At the same time, Bangladesh (+63.9%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +63.9% from 2012-2021. India (+6 p.p.) and Bangladesh (+2.6 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 ($X) constitutes the largest market for imported sunflower oilcake in Southern Asia, comprising 98% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 1.6% share of total imports.

In India, sunflower oilcake imports expanded at an average annual rate of +20.6% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, surging by 40% against the previous year. Import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.5% 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 +55.8% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by 64% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.5%).

Source: IndexBox Platform

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