ASEAN: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in ASEAN

In 2022, the ASEAN market for crude sunflower-seed and safflower oil increased by X% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption enjoyed buoyant growth. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Crude Sunflower-Seed And Safflower Oil in ASEAN

In value terms, crude sunflower-seed and safflower oil production rose slightly to $X in 2022 estimated in export price. In general, production, however, saw a deep slump. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports in ASEAN

In 2022, shipments abroad of crude sunflower-seed and safflower oil decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports declined notably to $X in 2022. Overall, exports recorded a deep contraction. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. Singapore (X tons) held a little share of total exports.

Malaysia was also the fastest-growing in terms of the crude sunflower-seed and safflower oil exports, with a CAGR of X% from 2012 to 2022. Singapore (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest crude sunflower-seed and safflower oil supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Malaysia stood at X%.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude sunflower-seed and safflower oil export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%).

Imports of Crude Sunflower-Seed And Safflower Oil

Imports in ASEAN

In 2022, supplies from abroad of crude sunflower-seed and safflower oil decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil imports soared to $X in 2022. In general, imports, however, posted a strong expansion. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

Malaysia prevails in imports structure, recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Singapore (X tons), comprising a X% share of total imports. Thailand (X tons) took a minor share of total imports.

Imports into Malaysia increased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Thailand (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported crude sunflower-seed and safflower oil in ASEAN, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia totaled X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, picking up by X% against the previous year. In general, the import price saw pronounced growth. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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