Spain: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Spain

The Spanish sunflower-seed and safflower oil market surged to $X in 2022, jumping by 26% against the previous year. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +47.0% against 2017 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Production of Sunflower-Seed And Safflower Oil in Spain

In value terms, sunflower-seed and safflower oil production shrank markedly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 60%. As a result, production reached the peak level of $X, and then reduced sharply in the following year.

Exports of Sunflower-Seed And Safflower Oil

Exports from Spain

In 2022, sunflower-seed and safflower oil exports from Spain skyrocketed to X tons, jumping by 32% compared with the previous year's figure. In general, exports showed a prominent expansion. The growth pace was the most rapid in 2016 when exports increased by 47% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

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

Exports by Country

France (X tons), Portugal (X tons) and Belgium (X tons) were the main destinations of sunflower-seed and safflower oil exports from Spain, together accounting for 51% of total exports. The United States, the UK, South Africa, Mexico, Germany, the Netherlands, South Korea, Austria and Israel lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +1,040.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X) emerged as the key foreign market for sunflower-seed and safflower oil exports from Spain, comprising 27% of total exports. The second position in the ranking was held by Portugal ($X), with a 13% share of total exports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+8.4% per year) and the United States (+30.7% per year).

Export Prices by Country

In 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, increasing by 46% against the previous year. Overall, the export price continues to indicate pronounced growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to South Africa ($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 Austria (+29.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Spain

In 2022, sunflower-seed and safflower oil imports into Spain surged to X tons, picking up by 25% compared with 2021 figures. In general, imports posted strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 53% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ukraine (X tons), Bulgaria (X tons) and France (X tons) were the main suppliers of sunflower-seed and safflower oil imports to Spain, with a combined 65% share of total imports. The Netherlands, Germany, Poland, Moldova, Argentina, Portugal and Russia lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +332.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Bulgaria ($X) and France ($X) were the largest sunflower-seed and safflower oil suppliers to Spain, with a combined 65% share of total imports. The Netherlands, Poland, Germany, Portugal, Moldova, Argentina and Russia lagged somewhat behind, together comprising a further 29%.

Among the main suppliers, Poland, with a CAGR of +309.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sunflower-seed and safflower oil import price stood at $X per ton in 2022, rising by 25% against the previous year. In general, the import price saw a moderate increase. The pace of growth was the most pronounced in 2021 an increase of 59%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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