GCC: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in GCC

In 2022, the GCC market for sunflower-seed or safflower oil, refined, but not chemically modified increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption recorded a buoyant increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in GCC

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified reached $X in 2022 estimated in export price. Overall, production saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked in 2022 and is expected to retain growth in years to come.

Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Exports in GCC

In 2022, overseas shipments of sunflower-seed or safflower oil, refined, but not chemically modified decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports of attained the peak figure at X tons in 2021, and then dropped remarkably in the following year.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified declined to $X in 2022. Overall, exports recorded a mild decline. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Oman (X tons) and Saudi Arabia (X tons) represented the largest exporters of sunflower-seed or safflower oil, refined, but not chemically modified in 2022, reaching near X% and X% of total exports, respectively. It was distantly followed by the United Arab Emirates (X tons), creating a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest sunflower-seed or safflower oil, refined, but not chemically modified supplying countries in GCC were Oman ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Imports in GCC

In 2022, overseas purchases of sunflower-seed or safflower oil, refined, but not chemically modified were finally on the rise to reach X tons after two years of decline. Overall, imports posted buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2022. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the largest importer of sunflower-seed or safflower oil, refined, but not chemically modified, making up X% of total imports. Oman (X tons) took the second position in the ranking, followed by Saudi Arabia (X tons), Kuwait (X tons), Qatar (X tons) and Bahrain (X tons). All these countries together held near X% share of total imports.

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

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sunflower-seed or safflower oil, refined, but not chemically modified in GCC, comprising X% of total imports. The second position in the ranking was held by Oman ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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