United Kingdom: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in the UK

The UK market for crude sunflower-seed and safflower oil amounted to $X in 2022, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +30.6% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from the UK

In 2022, overseas shipments of crude sunflower-seed and safflower oil decreased by -11.3% to X tons, falling for the fifth consecutive year after four years of growth. Overall, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2017 when exports increased by 351% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, crude sunflower-seed and safflower oil exports fell rapidly to $X in 2022. Over the period under review, exports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of 303% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand (X tons), the Netherlands (X tons) and Ghana (X tons) were the main destinations of crude sunflower-seed and safflower oil exports from the UK, together comprising 76% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +55.0%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the Netherlands ($X) and Gambia ($X) were the largest markets for crude sunflower-seed and safflower oil exported from the UK worldwide, together accounting for 61% of total exports. Ghana, the United Arab Emirates, Norway and Ireland lagged somewhat behind, together accounting for a further 24%.

In terms of the main countries of destination, Ghana, with a CAGR of +41.8%, recorded 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

In 2022, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, dropping by -11.4% against the previous year. Overall, the export price saw a pronounced decrease. The growth pace was the most rapid in 2021 an increase of 53%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Thailand ($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 Ireland (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into the UK

In 2022, supplies from abroad of crude sunflower-seed and safflower oil decreased by -22.1% to X tons, falling for the third consecutive year after six years of growth. Overall, imports showed a slight contraction. The pace of growth was the most pronounced in 2016 with an increase of 36% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil imports rose rapidly to $X in 2022. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 45%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest crude sunflower-seed and safflower oil supplier to the UK, with a 59% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Ukraine exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), fourfold. France (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+15.6% per year) and France (-14.1% per year).

In value terms, Ukraine ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to the UK, comprising 58% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by Bulgaria, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Ukraine amounted to +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-10.2% per year) and Bulgaria (+24.0% per year).

Import Prices by Country

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, jumping by 43% against the previous year. Over the period under review, the import price posted a tangible increase. The most prominent rate of growth was recorded in 2021 an increase of 45%. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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