Austria: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Austria

In 2022, after two years of growth, there was significant decline in the Austrian sunflower-seed and safflower oil market, when its value decreased by X% to $X. Overall, consumption, however, enjoyed a remarkable increase. As a result, consumption attained the peak level of $X, and then shrank notably in the following year.

Production of Sunflower-Seed And Safflower Oil in Austria

In value terms, sunflower-seed and safflower oil production declined notably to $X in 2022 estimated in export price. In general, production, however, posted significant growth. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X, and then contracted remarkably in the following year.

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Exports of Sunflower-Seed And Safflower Oil

Exports from Austria

In 2022, the amount of sunflower-seed and safflower oil exported from Austria dropped to X tons, with a decrease of X% against the previous year's figure. In general, exports saw a mild downturn. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, sunflower-seed and safflower oil exports expanded notably to $X in 2022. Over the period under review, exports, however, saw a slight increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for sunflower-seed and safflower oil exports from Austria, with a X% share of total exports. Moreover, sunflower-seed and safflower oil exports to Germany exceeded the volume sent to the second major destination, Switzerland (X tons), fivefold. The Czech Republic (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (X% per year) and the Czech Republic (X% per year).

In value terms, Germany ($X) remains the key foreign market for sunflower-seed and safflower oil exports from Austria, comprising X% of total exports. The second position in the ranking was held by Switzerland ($X), with a X% share of total exports. It was followed by Hungary, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (X% per year) and Hungary (X% per year).

Export Prices by Country

The average sunflower-seed and safflower oil export price stood at $X per ton in 2022, rising by X% against the previous year. In general, 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, sunflower-seed and safflower oil export price increased by X% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Slovenia ($X per ton), while the average price for exports to the Czech Republic ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Austria

In 2022, purchases abroad of sunflower-seed and safflower oil decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank dramatically in the following year.

In value terms, sunflower-seed and safflower oil imports fell slightly to $X in 2022. Overall, imports, however, saw a noticeable expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then shrank modestly in the following year.

Imports by Country

Hungary (X tons), Ukraine (X tons) and Bosnia and Herzegovina (X tons) were the main suppliers of sunflower-seed and safflower oil imports to Austria, with a combined X% share of total imports. Romania, Serbia, the Netherlands, Italy, Poland, Belgium, Germany, Slovenia and the Czech Republic lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Bosnia and Herzegovina ($X) and Ukraine ($X) constituted the largest sunflower-seed and safflower oil suppliers to Austria, together comprising X% of total imports. Romania, Serbia, the Netherlands, Italy, Poland, Germany, Belgium, the Czech Republic and Slovenia lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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, surging by X% against the previous year. Over the period under review, import price indicated a measured increase 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, sunflower-seed and safflower oil import price increased by X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Bosnia and Herzegovina ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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