Middle East: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in the Middle East

The Middle Eastern sunflower-seed and safflower oil market stood at $X in 2022, flattening at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Sunflower-Seed And Safflower Oil in the Middle East

In value terms, sunflower-seed and safflower oil production fell rapidly to $X in 2022 estimated in export price. Overall, production showed resilient growth. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Exports of Sunflower-Seed And Safflower Oil

Exports in the Middle East

In 2022, exports of sunflower-seed and safflower oil in the Middle East skyrocketed to X tons, increasing by X% on 2021 figures. In general, exports recorded a strong increase. The growth pace was the most rapid in 2014 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

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

Exports by Country

Turkey dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), mixing up a X% share of total exports. The following exporters - Oman (X tons) and Saudi Arabia (X tons) - each finished at a X% share of total exports.

Turkey was also the fastest-growing in terms of the sunflower-seed and safflower oil exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Oman (X%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Oman and Saudi Arabia 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, Turkey ($X) remains the largest sunflower-seed and safflower oil supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In Turkey, sunflower-seed and safflower oil exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Imports of Sunflower-Seed And Safflower Oil

Imports in the Middle East

In 2022, the amount of sunflower-seed and safflower oil imported in the Middle East skyrocketed to X tons, rising by X% compared with 2021. Total imports indicated a remarkable increase 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. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, sunflower-seed and safflower oil imports skyrocketed to $X in 2022. Total imports indicated resilient 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the key importer of sunflower-seed and safflower oil in the Middle East, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Iraq (X tons) ranks second in terms of the total imports with a X% share, followed by Iran (X%). The United Arab Emirates (X tons), Syrian Arab Republic (X tons), Saudi Arabia (X tons), Lebanon (X tons) and Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sunflower-seed and safflower oil imports into Turkey stood at X%. At the same time, Iraq (X%), the United Arab Emirates (X%), Jordan (X%), Saudi Arabia (X%) and Lebanon (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Iran and Syrian Arab Republic experienced a relatively flat trend pattern. While the share of Turkey (X p.p.) and Iraq (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Syrian Arab Republic (X p.p.) and Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported sunflower-seed and safflower oil in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Iraq ($X), with an X% share of total imports. It was followed by Iran, with an X% share.

In Turkey, sunflower-seed and safflower oil imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Iraq (X% per year) and Iran (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

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 Jordan ($X per ton), while Iraq ($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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