MERCOSUR: 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 MERCOSUR

The MERCOSUR market for sunflower-seed or safflower oil, refined, but not chemically modified fell modestly to $X in 2022, dropping by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production of attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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

Exports in MERCOSUR

After four years of decline, shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified increased by X% to X tons in 2022. Over the period under review, exports continue to indicate tangible growth. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2022. In general, exports saw prominent growth. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Argentina dominates modified structure, amounting to X tons, which was near X% of total exports in 2022. Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sunflower-seed or safflower oil, refined, but not chemically modified exports from Argentina stood at X%. At the same time, Ecuador (X%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2022. While the share of Ecuador (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Argentina (X p.p.) displayed negative dynamics.

In value terms, Argentina ($X) remains the largest sunflower-seed or safflower oil, refined, but not chemically modified supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports.

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

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, jumping by X% against the previous year. Export price indicated a noticeable expansion 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, export price for sunflower-seed or safflower oil, refined, but not chemically modified increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices hit record highs 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 Ecuador ($X per ton), while Argentina stood at $X per ton.

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

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

Imports in MERCOSUR

In 2022, overseas purchases of sunflower-seed or safflower oil, refined, but not chemically modified decreased by X% to X tons, falling for the fifth year in a row after two years of growth. Overall, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2016 when imports increased by X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified rose markedly to $X in 2022. In general, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Chile prevails in modified structure, recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Colombia (X tons), Peru (X tons), Venezuela (X tons) and Suriname (X tons), together creating a X% share of total imports. The following importers - Paraguay (X tons) and Brazil (X tons) - each finished at an X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sunflower-seed or safflower oil, refined, but not chemically modified imports into Chile stood at X%. At the same time, Venezuela (X%), Peru (X%), Brazil (X%) and Suriname (X%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2022. Paraguay experienced a relatively flat trend pattern. By contrast, Colombia (X%) illustrated a downward trend over the same period. Chile (X p.p.), Venezuela (X p.p.), Peru (X p.p.) and Brazil (X p.p.) significantly strengthened its position in terms of the total imports, while Paraguay and Colombia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported sunflower-seed or safflower oil, refined, but not chemically modified in MERCOSUR, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with an X% share of total imports. It was followed by Peru, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Chile totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Peru (X% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a modest expansion 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, import price for sunflower-seed or safflower oil, refined, but not chemically modified increased by X% against 2019 indices. 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 hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Suriname ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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