Latin America and the Caribbean: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Latin America and the Caribbean

The Latin American market for crude sunflower-seed and safflower oil dropped sharply to $X in 2022, which is down by X% against the previous year. In general, consumption saw a pronounced shrinkage. Over the period under review, the market attained the peak level at $X in 2021, and then contracted notably in the following year.

Production of Crude Sunflower-Seed And Safflower Oil in Latin America and the Caribbean

In value terms, crude sunflower-seed and safflower oil production dropped to $X in 2022 estimated in export price. Overall, production saw a pronounced setback. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Crude Sunflower-Seed And Safflower Oil

Exports in Latin America and the Caribbean

In 2022, overseas shipments of crude sunflower-seed and safflower oil were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports soared to $X in 2022. Overall, exports posted a measured increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina represented the key exporter of crude sunflower-seed and safflower oil in Latin America and the Caribbean, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Bolivia (X tons), constituting a X% share of total exports.

Argentina experienced a relatively flat trend pattern with regard to volume of exports of crude sunflower-seed and safflower oil. At the same time, Bolivia (X%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. While the share of Bolivia (X p.p.) and Argentina (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest crude sunflower-seed and safflower oil supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Bolivia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Argentina amounted to X%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price continues to indicate noticeable growth. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Bolivia totaled $X per ton.

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

Imports of Crude Sunflower-Seed And Safflower Oil

Imports in Latin America and the Caribbean

In 2022, purchases abroad of crude sunflower-seed and safflower oil decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, crude sunflower-seed and safflower oil imports contracted to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Ecuador (X tons), distantly followed by Colombia (X tons), Brazil (X tons), Chile (X tons), Peru (X tons) and Uruguay (X tons) were the major importers of crude sunflower-seed and safflower oil, together mixing up X% of total imports. The Dominican Republic (X tons) followed a long way behind the leaders.

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

In value terms, the largest crude sunflower-seed and safflower oil importing markets in Latin America and the Caribbean were Colombia ($X), Brazil ($X) and Ecuador ($X), with a combined X% share of total imports. Chile, Peru, Uruguay and the Dominican Republic lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Uruguay, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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