China: Safflower Seed Market 2024

Safflower Seed Market Size in China

In 2022, the Chinese safflower seed market increased by X% to $X, rising for the fourth year in a row after two years of decline. Overall, consumption showed a resilient expansion. Safflower seed consumption peaked in 2022 and is expected to retain growth in the near future.

Safflower Seed Production in China

In value terms, safflower seed production fell markedly to $X in 2022 estimated in export price. Overall, production posted a measured expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of safflower seed in China reached X tons per ha, approximately mirroring 2021 figures. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. The safflower seed yield peaked at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of safflower seed production in China reached X ha, flattening at the previous year's figure. Over the period under review, the harvested area recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to safflower seed production reached the peak figure at X ha in 2017; however, from 2018 to 2022, the harvested area failed to regain momentum.

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Safflower Seed Exports

Exports from China

In 2022, overseas shipments of safflower seed were finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a precipitous setback. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, safflower seed exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X tons), the United States (X tons) and South Korea (X tons) were the main destinations of safflower seed exports from China, together accounting for X% 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 the United States (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) emerged as the key foreign market for safflower seed exports from China, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and South Korea (X% per year).

Export Prices by Country

The average safflower seed export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Japan ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Safflower Seed Imports

Imports into China

In 2022, approx. X tons of safflower seed were imported into China; with an increase of X% against 2021. In general, imports showed a significant expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, safflower seed imports skyrocketed to $X in 2022. Overall, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Kazakhstan (X tons) was the main supplier of safflower seed to China, with a approx. X% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of volume from Kazakhstan amounted to X%.

In value terms, Kazakhstan ($X) constituted the largest supplier of safflower seed to China.

From 2013 to 2022, the average annual growth rate of value from Kazakhstan amounted to X%.

Import Prices by Country

In 2022, the average safflower seed import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, import price indicated a noticeable expansion from 2013 to 2022: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, safflower seed import price increased by X% against 2017 indices. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Kazakhstan.

From 2013 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Source: IndexBox Platform

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