Hungary - Crude Sunflower-Seed And Safflower Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Crude Sunflower-Seed and Safflower Oil in Hungary - 2023
Contents:
- Price for Crude Sunflower-Seed and Safflower Oil in Hungary (FOB) - 2023
- Price for Crude Sunflower-Seed and Safflower Oil in Hungary (CIF) - 2023
- Exports of Crude Sunflower-Seed and Safflower Oil in Hungary
- Imports of Crude Sunflower-Seed and Safflower Oil in Hungary
Price for Crude Sunflower-Seed and Safflower Oil in Hungary (FOB) - 2023
The average export price for crude sunflower-seed and safflower oil stood at $1,297 per ton in July 2023, waning by -6.9% against the previous month. In general, the export price continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in March 2023 an increase of 5.9% against the previous month. The export price peaked at $1,784 per ton in August 2022; however, from September 2022 to July 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was the Czech Republic ($1,778 per ton), while the average price for exports to Germany ($1,141 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+3.9%), while the prices for the other major destinations experienced a decline.
Price for Crude Sunflower-Seed and Safflower Oil in Hungary (CIF) - 2023
In July 2023, the average import price for crude sunflower-seed and safflower oil amounted to $998 per ton, picking up by 2.9% against the previous month. Over the period under review, the import price, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 10% month-to-month. Over the period under review, average import prices hit record highs at $1,577 per ton in August 2022; however, from September 2022 to July 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Romania ($1,079 per ton), while the price for Ukraine amounted to $989 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Romania (-3.6%).
Exports of Crude Sunflower-Seed and Safflower Oil in Hungary
In 2022, crude sunflower-seed and safflower oil exports from Hungary skyrocketed to 347K tons, increasing by 30% on the year before. The total export volume increased at an average annual rate of +6.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, crude sunflower-seed and safflower oil exports surged to $552M in 2022. Overall, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Crude Sunflower-Seed and Safflower Oil in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 128 | 55.8 | 56.1 | 191 | 14.3% |
| Italy | 23.3 | 78.7 | 107 | 128 | 76.4% |
| Germany | 32.8 | 49.6 | 83.9 | 108 | 48.8% |
| Croatia | 9.9 | 9.2 | 35.4 | 64.7 | 87.0% |
| Slovenia | 14.3 | 9.8 | 11.8 | 29.0 | 26.6% |
| Others | 11.9 | 10.6 | 19.9 | 31.2 | 37.9% |
| Total | 220 | 214 | 315 | 552 | 35.9% |
Top Export Markets for Crude Sunflower-Seed and Safflower Oil from Hungary in 2022:
- Netherlands (123.6K tons)
- Italy (81.3K tons)
- Germany (68.7K tons)
- Croatia (37.1K tons)
- Slovenia (16.6K tons)
Imports of Crude Sunflower-Seed and Safflower Oil in Hungary
In 2022, crude sunflower-seed and safflower oil imports into Hungary soared to 120K tons, rising by 471% on 2021 figures. Over the period under review, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, crude sunflower-seed and safflower oil imports surged to $185M in 2022. In general, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Crude Sunflower-Seed and Safflower Oil in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ukraine | N/A | 15.8 | N/A | 164 | 222.2% |
| Romania | 3.6 | 5.3 | 17.7 | 12.3 | 50.6% |
| Croatia | 0.4 | 0.4 | 1.4 | 5.1 | 133.6% |
| Czech Republic | 1.1 | N/A | 2.6 | 0.2 | -43.3% |
| Serbia | 2.7 | 8.8 | 5.2 | 0.1 | -66.7% |
| Others | 1.3 | 1.5 | 1.4 | 3.3 | 36.4% |
| Total | 9.1 | 31.8 | 28.4 | 185 | 172.9% |
Top Suppliers of Crude Sunflower-Seed and Safflower Oil to Hungary in 2022:
- Ukraine (106.5K tons)
- Romania (8.0K tons)
- Croatia (3.3K tons)
- Czech Republic (0.1K tons)
- Serbia (0.1K tons)
This report provides an in-depth analysis of the market for crude sunflower-seed and safflower oil in Hungary. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 268 - Oil of Sunflower Seed
- FCL 281 - Oil of Safflower Seed
Country coverage:
- Hungary
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hungary
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Over the past year, the prices for sunflower oil have doubled, against robust demand and depleting sunflower seed stocks. The dry weather conditions negatively affected the sunflower crop yield in 2020, but the market is now seeing a sturdy recovery. The production of sunflower oil is forecast to increase in 2021 driven by strong demand that promotes investments in the expansion of harvested areas.
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