Sweden: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Sweden

The Swedish sunflower-seed and safflower oil market surged to $X in 2022, growing by 52% against the previous year. In general, consumption continues to indicate a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Sunflower-Seed And Safflower Oil in Sweden

In value terms, sunflower-seed and safflower oil production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 45% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Sunflower-Seed And Safflower Oil

Exports from Sweden

In 2022, overseas shipments of sunflower-seed and safflower oil increased by 14% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 60%. 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. In general, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2021 when exports increased by 87%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Germany (X tons), Norway (X tons) and Poland (X tons) were the main destinations of sunflower-seed and safflower oil exports from Sweden, together comprising 74% of total exports. The Netherlands, France, Greece, Italy, Chile, Denmark, Finland and the UK lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +81.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) emerged as the key foreign market for sunflower-seed and safflower oil exports from Sweden, comprising 50% of total exports. The second position in the ranking was taken by Norway ($X), with an 18% share of total exports. It was followed by Poland, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +81.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-7.6% per year) and Poland (+14.0% per year).

Export Prices by Country

In 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, increasing by 50% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil export price increased by +100.9% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Norway ($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 the UK (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Sweden

In 2022, after two years of decline, there was significant growth in supplies from abroad of sunflower-seed and safflower oil, when their volume increased by 18% to X tons. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 28%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, sunflower-seed and safflower oil imports surged to $X in 2022. Over the period under review, imports showed 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 sunflower-seed and safflower oil supplier to Sweden, with a 57% share of total imports. Moreover, sunflower-seed and safflower oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Ukraine (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+22.9% per year) and Ukraine (+189.5% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of sunflower-seed and safflower oil to Sweden, comprising 65% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by Ukraine, with a 9% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+23.1% per year) and Ukraine (+199.8% per year).

Import Prices by Country

The average sunflower-seed and safflower oil import price stood at $X per ton in 2022, with an increase of 42% against the previous year. Overall, the import price posted perceptible growth. The growth pace was the most rapid in 2021 when the average import price increased by 44%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

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 ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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