Latin America and the Caribbean: Safflower Seed Market 2024

Safflower Seed Market Size in Latin America and the Caribbean

The Latin American safflower seed market rose markedly to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, recorded a pronounced shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Safflower Seed Production in Latin America and the Caribbean

In value terms, safflower seed production stood at $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The country with the largest volume of safflower seed production was Mexico (X tons), accounting for X% of total volume. Moreover, safflower seed production in Mexico exceeded the figures recorded by the second-largest producer, Argentina (X tons), threefold.

In Mexico, safflower seed production shrank by an average annual rate of X% over the period from 2012-2022.

In 2022, the average safflower seed yield in Latin America and the Caribbean amounted to X tons per ha, approximately mirroring the year before. In general, the yield continues to indicate a buoyant increase. The growth pace was the most rapid in 2018 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha; 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 expanded significantly to X ha in 2022, increasing by X% against the previous year's figure. In general, the harvested area, however, faced a deep downturn. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

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Safflower Seed Exports

Exports in Latin America and the Caribbean

For the fourth consecutive year, LatAmerica and the Caribbean recorded decline in shipments abroad of safflower seed, which decreased by X% to X kg in 2022. Over the period under review, exports recorded a precipitous descent. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, safflower seed exports shrank significantly to $X in 2022. Overall, exports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Paraguay represented the major exporting country with an export of about X kg, which amounted to X% of total exports. It was distantly followed by Chile (X kg), achieving a X% share of total exports.

Exports from Paraguay decreased at an average annual rate of X% from 2012 to 2022. Chile (X%) illustrated a downward trend over the same period. Paraguay (X p.p.) and Chile (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, Chile ($X) remains the largest safflower seed supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Paraguay ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, enjoyed a notable increase. The growth pace was the most rapid in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

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

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

Safflower Seed Imports

Imports in Latin America and the Caribbean

Safflower seed imports dropped remarkably to X tons in 2022, which is down by X% against 2021 figures. Over the period under review, imports faced a abrupt shrinkage. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, safflower seed imports fell to $X in 2022. In general, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2016 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) represented the largest importer of safflower seed, mixing up X% of total imports. It was distantly followed by Costa Rica (X tons) and Trinidad and Tobago (X tons), together achieving a X% share of total imports. The Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest safflower seed importing markets in Latin America and the Caribbean were Brazil ($X), Trinidad and Tobago ($X) and Costa Rica ($X), together comprising X% of total imports.

Costa Rica, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Costa Rica ($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 Dominican Republic (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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