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

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

The Latin American sunflower-seed and safflower oil market fell rapidly to $X in 2022, dropping by X% against the previous year. Overall, consumption saw a perceptible decline. Over the period under review, the market hit record highs at $X in 2021, and then reduced sharply in the following year.

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

In value terms, sunflower-seed and safflower oil production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Sunflower-Seed And Safflower Oil

Exports in Latin America and the Caribbean

In 2022, overseas shipments of sunflower-seed and safflower oil were finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a relatively flat trend pattern. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sunflower-seed and safflower oil exports surged to $X in 2022. Over the period under review, exports continue to indicate a notable expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina dominates exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Bolivia (X tons), committing a X% share of total exports.

Argentina experienced a relatively flat trend pattern with regard to volume of exports of 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 Argentina (X p.p.) and Bolivia (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest sunflower-seed and safflower oil supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Bolivia ($X), with an 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, rising by X% against the previous year. Over the period under review, the export price enjoyed a noticeable increase. The pace of growth appeared the most rapid 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 immediate term.

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 amounted to $X per ton.

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

Imports of Sunflower-Seed And Safflower Oil

Imports in Latin America and the Caribbean

In 2022, overseas purchases of sunflower-seed and safflower oil decreased by X% to X tons, falling for the fourth year in a row after four years of growth. Total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, sunflower-seed and safflower oil imports expanded significantly to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Chile (X tons), distantly followed by Ecuador (X tons), Colombia (X tons), Brazil (X tons), Peru (X tons) and Uruguay (X tons) represented the main importers of sunflower-seed and safflower oil, together creating X% of total imports. Mexico (X tons) held a relatively small share of total imports.

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

In value terms, Chile ($X) constitutes the largest market for imported sunflower-seed and safflower oil in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Chile stood at X%. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

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

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

Source: IndexBox Platform

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