U.S.: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in the U.S.

The U.S. market for crude sunflower-seed and safflower oil surged to $X in 2022, increasing by 17% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Production of Crude Sunflower-Seed And Safflower Oil in the U.S.

In value terms, crude sunflower-seed and safflower oil production amounted to $X in 2022. Over the period under review, production, however, saw a mild shrinkage. The growth pace was the most rapid in 2015 when the production volume increased by 27% against the previous year. Crude sunflower-seed and safflower oil production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from the U.S.

In 2022, overseas shipments of crude sunflower-seed and safflower oil decreased by -55.1% to X tons, falling for the third consecutive year after three years of growth. In general, exports faced a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 67%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports reduced sharply to $X in 2022. Overall, exports showed a deep slump. The most prominent rate of growth was recorded in 2019 when exports increased by 63% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for crude sunflower-seed and safflower oil exports from the United States, accounting for a 46% share of total exports. Moreover, crude sunflower-seed and safflower oil exports to Japan exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. China (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to -17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+9.0% per year) and China (+0.9% per year).

In value terms, Japan ($X) emerged as the key foreign market for crude sunflower-seed and safflower oil exports from the United States, comprising 63% of total exports. The second position in the ranking was taken by Canada ($X), with a 9.2% share of total exports. It was followed by the Netherlands, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to -16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+11.0% per year) and the Netherlands (-3.3% per year).

Export Prices by Country

The average export price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, surging by 16% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Japan ($X per ton), while the average price for exports to South Korea ($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 China (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into the U.S.

Crude sunflower-seed and safflower oil imports into the United States surged to X tons in 2022, with an increase of 58% on the previous year. Overall, imports saw buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 158% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, crude sunflower-seed and safflower oil imports soared to $X in 2022. In general, imports saw buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 126%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Mexico (X tons), France (X tons) and Ukraine (X tons) were the main suppliers of crude sunflower-seed and safflower oil imports to the United States, with a combined 79% share of total imports. Argentina, Turkey, Paraguay, Spain and the Netherlands lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Paraguay (with a CAGR of +74.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Ukraine ($X) and Argentina ($X) were the largest crude sunflower-seed and safflower oil suppliers to the United States, with a combined 70% share of total imports. Mexico, Spain, Turkey, Paraguay and the Netherlands lagged somewhat behind, together accounting for a further 28%.

Paraguay, with a CAGR of +70.3%, saw the highest growth rate of the value of imports, among the main suppliers 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 import price for crude sunflower-seed and safflower oil amounted to $X per ton, growing by 4.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 18%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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