Algeria: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Algeria

The Algerian sunflower-seed and safflower oil market surged to $X in 2022, growing by X% against the previous year. Overall, consumption, however, recorded a abrupt decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Sunflower-Seed And Safflower Oil in Algeria

In value terms, sunflower-seed and safflower oil production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Exports of Sunflower-Seed And Safflower Oil

Exports from Algeria

In 2022, after three years of decline, there was significant growth in overseas shipments of sunflower-seed and safflower oil, when their volume increased by X% to X tons. Over the period under review, exports, however, faced a drastic downturn. The pace of growth was the most pronounced in 2016 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sunflower-seed and safflower oil exports shrank modestly to $X in 2022. Overall, exports, however, showed a precipitous slump. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Libya (X tons) was the main destination for sunflower-seed and safflower oil exports from Algeria, with a X% share of total exports. Moreover, sunflower-seed and safflower oil exports to Libya exceeded the volume sent to the second major destination, Saudi Arabia (X tons), fourfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Libya amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

In value terms, the largest markets for sunflower-seed and safflower oil exported from Algeria were Libya ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined X% share of total exports. Canada, Syrian Arab Republic, Kuwait and Lebanon lagged somewhat behind, together accounting for a further X%.

Canada, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price saw a noticeable reduction. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the average export prices attained the maximum 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 Syrian Arab Republic ($X per ton), while the average price for exports to Canada ($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 Syrian Arab Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Algeria

Sunflower-seed and safflower oil imports into Algeria soared to X tons in 2022, jumping by X% compared with the previous year. In general, imports, however, recorded a deep slump. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil imports skyrocketed to $X in 2022. Overall, imports, however, recorded a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of sunflower-seed and safflower oil to Algeria, accounting for a X% share of total imports. Moreover, sunflower-seed and safflower oil imports from Russia exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. The third position in this ranking was held by Ukraine (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Ukraine (X% per year).

In value terms, the largest sunflower-seed and safflower oil suppliers to Algeria were Argentina ($X), Russia ($X) and Ukraine ($X), with a combined X% share of total imports. These countries were followed by Turkey, which accounted for a further X%.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average sunflower-seed and safflower oil import price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price recorded a pronounced setback. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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