Spain: Sunflower Seed Market 2024

Sunflower Seed Market Size in Spain

In 2022, the Spanish sunflower seed market increased by 17% to $X, rising for the second consecutive year after two years of decline. Overall, consumption posted a resilient increase. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Sunflower Seed Production in Spain

In value terms, sunflower seed production fell to $X in 2022 estimated in export price. Over the period under review, production posted a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 168%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The average yield of sunflower seed in Spain expanded remarkably to X tons per ha in 2022, surging by 6.5% compared with the year before. The yield figure increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the yield increased by 42%. The sunflower seed yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of sunflower seed production in Spain reached X ha, therefore, remained relatively stable against 2021 figures. In general, the harvested area, however, saw a mild reduction. The most prominent rate of growth was recorded in 2013 with an increase of 13%. As a result, the harvested area reached the peak level of X ha. From 2014 to 2022, the growth of the sunflower seed harvested area remained at a lower figure.

Sunflower Seed Exports

Exports from Spain

In 2022, overseas shipments of sunflower seed decreased by -37.4% to X tons, falling for the second year in a row after three years of growth. In general, exports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 87%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, sunflower seed exports shrank significantly to $X in 2022. Over the period under review, exports, however, recorded a measured expansion. The pace of growth was the most pronounced in 2017 with an increase of 44% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for sunflower seed exports from Spain, with a 54% share of total exports. Moreover, sunflower seed exports to France exceeded the volume sent to the second major destination, Portugal (X tons), fivefold. Russia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-17.6% per year) and Russia (+12.7% per year).

In value terms, Russia ($X), France ($X) and Romania ($X) constituted the largest markets for sunflower seed exported from Spain worldwide, with a combined 69% share of total exports. Ukraine, Hungary, Bulgaria, Portugal, Morocco, South Africa and Belgium lagged somewhat behind, together comprising a further 24%.

In terms of the main countries of destination, Belgium, with a CAGR of +55.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sunflower seed export price stood at $X per ton in 2022, growing by 5% against the previous year. Overall, the export price showed prominent growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by 127%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Portugal ($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 Morocco (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Seed Imports

Imports into Spain

In 2022, supplies from abroad of sunflower seed was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sunflower seed imports soared to $X in 2022. Overall, imports recorded noticeable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Romania (X tons) and Bulgaria (X tons) were the main suppliers of sunflower seed imports to Spain, with a combined 73% share of total imports. Ukraine, Argentina, China, the Netherlands, the United States and Portugal lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +35.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Romania ($X) and Bulgaria ($X) constituted the largest sunflower seed suppliers to Spain, with a combined 66% share of total imports. China, Ukraine, Argentina, the Netherlands, the United States and Portugal lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, the Netherlands, with a CAGR of +30.8%, recorded 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 import price stood at $X per ton in 2022, increasing by 6.9% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower seed import price increased by +73.8% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 31%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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