Sweden: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Sweden

The Swedish market for crude sunflower-seed and safflower oil skyrocketed to $X in 2022, rising by 50% against the previous year. Over the period under review, consumption showed a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Crude Sunflower-Seed And Safflower Oil in Sweden

In value terms, crude sunflower-seed and safflower oil production expanded markedly to $X in 2022 estimated in export price. In general, production saw a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 75%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Sweden

After two years of growth, shipments abroad of crude sunflower-seed and safflower oil decreased by -63.8% to X tons in 2022. In general, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 30,467% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, crude sunflower-seed and safflower oil exports contracted sharply to $X in 2022. Overall, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 34,201% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Finland (X tons) was the main destination for crude sunflower-seed and safflower oil exports from Sweden, accounting for a 53% share of total exports. Moreover, crude sunflower-seed and safflower oil exports to Finland exceeded the volume sent to the second major destination, Norway (X tons), twofold. Denmark (X tons) ranked third in terms of total exports with a 20% share.

From 2012 to 2022, the average annual growth rate of volume to Finland amounted to +56.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+44.2% per year) and Denmark (+18.0% per year).

In value terms, Finland ($X), Norway ($X) and Denmark ($X) appeared to be the largest markets for crude sunflower-seed and safflower oil exported from Sweden worldwide, with a combined 98% share of total exports.

In terms of the main countries of destination, Finland, with a CAGR of +63.2%, 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 export price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, jumping by 84% against the previous year. In general, the export price continues to indicate buoyant 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 Norway ($X per ton), while the average price for exports to Germany ($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 Denmark (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Sweden

In 2022, after two years of decline, there was significant growth in supplies from abroad of crude sunflower-seed and safflower oil, when their volume increased by 11% to X tons. Overall, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by 32%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil imports surged to $X in 2022. In general, imports continue to indicate resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of crude sunflower-seed and safflower oil to Sweden, with a 75% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. France (X tons) ranked third in terms of total imports with less than 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+27.0% per year) and France (-51.1% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to Sweden, comprising 83% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by France, with less than 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands amounted to +28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+28.2% per year) and France (-48.0% per year).

Import Prices by Country

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, increasing by 49% against the previous year. In general, the import price enjoyed a moderate increase. As a result, import price reached the peak level and is likely to continue 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 France ($X per ton), while the price for Germany ($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 (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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