U.S.: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in the U.S.

The U.S. market for sunflower-seed or safflower oil, refined, but not chemically modified rose to $X in 2021, with an increase of 3.2% against the previous year. Over the period under review, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.3% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in the U.S.

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified rose to $X in 2021. Overall, the total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 26% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production of growth remained at a somewhat lower figure.

Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Exports from the U.S.

In 2021, the amount of sunflower-seed or safflower oil, refined, but not chemically modified exported from the United States reached X tons, rising by 10% compared with the previous year's figure. Over the period under review, exports posted prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 26% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2021. Overall, exports continue to indicate a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from the United States, accounting for a 77% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Canada exceeded the volume sent to the second major destination, Mexico (X tons), sevenfold. South Korea (X tons) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume to Canada totaled +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+6.3% per year) and South Korea (+49.1% per year).

In value terms, Canada ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from the United States, comprising 81% of total exports. The second position in the ranking was taken by Mexico ($X), with an 8.3% share of total exports. It was followed by South Korea, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+3.2% per year) and South Korea (+52.3% per year).

Export Prices by Country

The average export price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, rising by 17% against the previous year. In general, the export price, however, continues to indicate a mild reduction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, the countries with the highest prices were Canada ($X per ton) and Japan ($X per ton), while the average price for exports to Mexico ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+2.1%), while the prices for the other major destinations experienced a decline.

Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Imports into the U.S.

In 2021, after five years of growth, there was significant decline in overseas purchases of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume decreased by -25.8% to X tons. Over the period under review, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 124% against the previous year. As a result, imports attained the peak of X tons, and then reduced notably in the following year.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified contracted to $X in 2021. In general, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 90% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

Ukraine (X tons), France (X tons) and Spain (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to the United States, with a combined 64% share of total imports. Turkey, Argentina, Mexico and the Netherlands lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +54.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), France ($X) and Spain ($X) were the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to the United States, together comprising 61% of total imports. These countries were followed by Turkey, Mexico, Argentina and the Netherlands, which together accounted for a further 33%.

Among the main suppliers, Turkey, with a CAGR of +50.8%, recorded the highest rates of growth with regard to 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 2021, the average import price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, growing by 25% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decline. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Mexico ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :