Report Update Nov 1, 2024

Sri Lanka - Sunflower-Seed and Safflower Oil - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Sri Lanka

After two years of growth, the Sri Lankan sunflower-seed and safflower oil market decreased by -21.3% to $X in 2022. In general, consumption, however, showed a remarkable increase. Over the period under review, the market attained the peak level at $X in 2021, and then fell notably in the following year.

Exports of Sunflower-Seed And Safflower Oil

Exports from Sri Lanka

In 2022, the amount of sunflower-seed and safflower oil exported from Sri Lanka surged to X tons, jumping by 30% compared with 2021 figures. Over the period under review, exports posted a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 451% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, sunflower-seed and safflower oil exports expanded remarkably to $X in 2022. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 487%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons) was the main destination for sunflower-seed and safflower oil exports from Sri Lanka, with a 90% share of total exports. Moreover, sunflower-seed and safflower oil exports to Bahrain exceeded the volume sent to the second major destination, Maldives (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume to Bahrain was relatively modest.

In value terms, Bahrain ($X) emerged as the key foreign market for sunflower-seed and safflower oil exports from Sri Lanka, comprising 87% of total exports. The second position in the ranking was taken by Maldives ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bahrain was relatively modest.

Export Prices by Country

In 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, with a decrease of -15.2% against the previous year. Overall, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2021 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Bahrain totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+39.4%).

Imports of Sunflower-Seed And Safflower Oil

Imports into Sri Lanka

After three years of growth, overseas purchases of sunflower-seed and safflower oil decreased by -27.7% to X tons in 2022. Over the period under review, imports, however, showed buoyant growth. The growth pace was the most rapid in 2017 when imports increased by 113%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted remarkably in the following year.

In value terms, sunflower-seed and safflower oil imports contracted rapidly to $X in 2022. In general, imports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by 138%. As a result, imports reached the peak of $X, and then reduced rapidly in the following year.

Imports by Country

Spain (X tons), Ukraine (X tons) and Malaysia (X tons) were the main suppliers of sunflower-seed and safflower oil imports to Sri Lanka, together accounting for 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +60.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sunflower-seed and safflower oil suppliers to Sri Lanka were Spain ($X), Ukraine ($X) and Malaysia ($X), with a combined 87% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +67.0%, 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

In 2022, the average sunflower-seed and safflower oil import price amounted to $X per ton, rising by 14% against the previous year. Over the period under review, the import price showed a slight expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 68%. Over the period under review, average import prices reached the maximum 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 India ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sunflower-seed and safflower oil in the world?

The countries with the highest volumes of in 2021 were Russia, India and Ukraine, together comprising 33% of global consumption.

What are the largest producers of sunflower-seed and safflower oil in the world?

The countries with the highest volumes of in 2021 were Ukraine, Russia and Argentina, with a combined 65% share of global production. These countries were followed by Turkey, Hungary, Bulgaria, Romania, France, Spain and Kazakhstan, which together accounted for a further 20%.

What are the leading suppliers of sunflower-seed and safflower oil to Sri Lanka?

In value terms, Ukraine, Spain and Malaysia appeared to be the largest sunflower-seed and safflower oil suppliers to Sri Lanka, with a combined 87% share of total imports.

What are the leading importers of sunflower-seed and safflower oil from Sri Lanka?

In value terms, Oman emerged as the key foreign market for sunflower-seed and safflower oil exports from Sri Lanka, comprising 84% of total exports. The second position in the ranking was occupied by Switzerland $313), with an 8.9% share of total exports.

What is the average export price for sunflower-seed and safflower oil in Sri Lanka?

The average sunflower-seed and safflower oil export price stood at $1,507 per ton in 2021, stabilizing at the previous year.

What is the average import price for sunflower-seed and safflower oil in Sri Lanka?

The average sunflower-seed and safflower oil import price stood at $1,942 per ton in 2021, jumping by 85% against the previous year.

This report provides an in-depth analysis of the market for sunflower-seed and safflower oil in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 268 - Oil of Sunflower Seed
FCL 281 - Oil of Safflower Seed

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023