New Zealand: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2023

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in New Zealand

After three years of growth, the New Zealand market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -5.2% to $X in 2021. Over the period under review, consumption saw a perceptible descent. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified shrank modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2016 with an increase of 29% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

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

Exports from New Zealand

Exports of sunflower-seed or safflower oil, refined, but not chemically modified from New Zealand expanded remarkably to X tons in 2021, picking up by 7.4% on the year before. In general, exports posted a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 2,183% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified expanded remarkably to $X in 2021. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 1,538%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from New Zealand, with a 96% share of total exports. It was followed by Australia (X tons), with a 1.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +90.4%.

In value terms, Vietnam ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from New Zealand, comprising 91% of total exports. The second position in the ranking was held by Australia ($X), with a 4.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to +95.1%.

Export Prices by Country

In 2021, the average export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, rising by 6.8% against the previous year. In general, the export price, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2015 an increase of 73%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Australia ($X per ton), while the average price for exports to Vietnam stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+3.8%).

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

Imports into New Zealand

In 2021, purchases abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -5.7% to X tons, falling for the second consecutive year after eight years of growth. Over the period under review, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 62%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified expanded rapidly to $X in 2021. In general, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 46%. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Ukraine (X tons), Romania (X tons) and Malaysia (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to New Zealand, with a combined 79% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +882.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Romania ($X) and Malaysia ($X) were the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to New Zealand, with a combined 77% share of total imports.

In terms of the main suppliers, Romania, with a CAGR of +841.8%, recorded the highest rates of growth with regard to 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 average import price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2021, picking up by 22% against the previous year. In general, the import price, however, recorded a mild descent. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Australia ($X per ton) and Spain ($X per ton), while the price for Romania ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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