Eastern Asia: Safflower Seed Market 2024

Safflower Seed Market Size in Eastern Asia

In 2022, the East Asian safflower seed market increased by X% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption showed a significant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Safflower Seed Production in Eastern Asia

In value terms, safflower seed production dropped sharply to $X in 2022 estimated in export price. Over the period under review, production posted moderate growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The country with the largest volume of safflower seed production was China (X tons), comprising approx. X% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest.

The average safflower seed yield totaled X tons per ha in 2022, flattening at the previous year. Overall, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of 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.

The safflower seed harvested area reached X ha in 2022, remaining stable against 2021. In general, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the harvested area increased by 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.

Safflower Seed Exports

Exports in Eastern Asia

After two years of decline, overseas shipments of safflower seed increased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, safflower seed exports skyrocketed to $X in 2022. In general, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near X% of total exports in 2022. Taiwan (Chinese) (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to safflower seed exports from China stood at X%. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. While the share of Taiwan (Chinese) (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest safflower seed supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports.

In China, safflower seed exports plunged by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) totaled $X per ton.

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

Safflower Seed Imports

Imports in Eastern Asia

Safflower seed imports surged to X tons in 2022, increasing by X% against 2021 figures. Overall, imports posted significant growth. The pace of growth was the most pronounced in 2013 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, safflower seed imports surged to $X in 2022. Over the period under review, imports saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China dominates imports structure, resulting at X tons, which was near X% of total imports in 2022. Taiwan (Chinese) (X tons) took a relatively small share of total imports.

China was also the fastest-growing in terms of the safflower seed imports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) constitutes the largest market for imported safflower seed in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price showed a perceptible reduction. The growth pace was the most rapid in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China amounted to $X per ton.

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

Source: IndexBox Platform

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