Eastern Europe: Safflower Seed Market 2024

Safflower Seed Market Size in Eastern Europe

The East European safflower seed market expanded markedly to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption showed strong growth. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Safflower Seed Production in Eastern Europe

In value terms, safflower seed production expanded slightly to $X in 2022 estimated in export price. In general, production saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Russia (X tons) constituted the country with the largest volume of safflower seed production, comprising approx. X% of total volume.

In Russia, safflower seed production increased at an average annual rate of X% over the period from 2012-2022.

The average safflower seed yield skyrocketed to X tons per ha in 2022, growing by X% against the year before. Overall, the yield continues to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of safflower seed were harvested in Eastern Europe; growing by X% against 2021 figures. Over the period under review, the harvested area posted a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area stood at a somewhat lower figure.

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Safflower Seed Exports

Exports in Eastern Europe

In 2022, safflower seed exports in Eastern Europe surged to X tons, rising by X% compared with the previous year. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, safflower seed exports skyrocketed to $X in 2022. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

The shipments of the one major exporters of safflower seed, namely Russia, represented more than two-thirds of total export.

Russia was also the fastest-growing in terms of the safflower seed exports, with a CAGR of X% from 2012 to 2022. Russia (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest safflower seed supplier in Eastern Europe.

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

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to X% per year.

Safflower Seed Imports

Imports in Eastern Europe

In 2022, overseas purchases of safflower seed increased by X% to X tons, rising for the third year in a row after two years of decline. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are 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 recorded a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Poland represented the largest importing country with an import of about X tons, which reached X% of total imports. Bulgaria (X tons) ranks second in terms of the total imports with a X% share, followed by the Czech Republic (X%). Hungary (X tons) followed a long way behind the leaders.

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

In value terms, Poland ($X) constitutes the largest market for imported safflower seed in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by Bulgaria ($X), with a X% share of total imports. It was followed by the Czech Republic, with a X% share.

In Poland, safflower seed imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bulgaria (X% per year) and the Czech Republic (X% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. 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 somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Hungary ($X per ton) and the Czech Republic ($X per ton), while Poland ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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