Spain: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Spain

The Spanish sunflower oilcake market contracted sharply to $X in 2021, reducing by -30.9% against the previous year. Overall, consumption recorded a abrupt decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sunflower Oilcake Production in Spain

In value terms, sunflower oilcake production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep slump. The pace of growth was the most pronounced in 2018 when the production volume increased by 39%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Sunflower Oilcake Exports

Exports from Spain

In 2021, after two years of growth, there was significant decline in overseas shipments of sunflower oilcake, when their volume decreased by -32.8% to X tons. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 56%. As a result, the exports attained the peak of X tons, and then declined significantly in the following year.

In value terms, sunflower oilcake exports shrank markedly to $X in 2021. Overall, exports saw a pronounced contraction. The pace of growth was the most pronounced in 2020 with an increase of 70% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for sunflower oilcake exports from Spain, with a 71% share of total exports. Moreover, sunflower oilcake exports to France exceeded the volume sent to the second major destination, the UK (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to France totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+8.8% per year) and Portugal (-14.1% per year).

In value terms, France ($X) remains the key foreign market for sunflower oilcake exports from Spain, comprising 66% of total exports. The second position in the ranking was taken by the UK ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual growth rate of value to France amounted to -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+17.4% per year) and Portugal (-12.1% per year).

Export Prices by Country

The average sunflower oilcake export price stood at $X per ton in 2021, picking up by 26% against the previous year. In general, the export price, however, saw a noticeable reduction. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Oilcake Imports

Imports into Spain

In 2021, overseas purchases of sunflower oilcake decreased by -48.9% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports faced a deep reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 34%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, sunflower oilcake imports shrank markedly to $X in 2021. In general, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 21% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Argentina (X tons), Ukraine (X tons) and Russia (X tons) were the main suppliers of sunflower oilcake imports to Spain, together accounting for 96% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +3.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest sunflower oilcake suppliers to Spain were Ukraine ($X), Argentina ($X) and Russia ($X), with a combined 95% share of total imports.

Among the main suppliers, Argentina, with a CAGR of +6.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average sunflower oilcake import price amounted to $X per ton, growing by 35% against the previous year. Overall, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sunflower oilcake import price increased by +50.7% against 2016 indices. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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