Russian Federation: 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 the Russian Federation

The Russian market for sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2022, jumping by X% against the previous year. Overall, consumption, however, recorded a slight contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in the Russian Federation

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified rose remarkably to $X in 2022 estimated in export price. In general, production, however, saw a noticeable reduction. The pace of growth appeared the most rapid in 2020 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 from the Russian Federation

In 2022, shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by X% to X tons, falling for the second consecutive year after nine years of growth. In general, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports of attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified shrank dramatically to $X in 2022. Overall, exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then declined significantly in the following year.

Exports by Country

Uzbekistan (X tons), Kazakhstan (X tons) and Kyrgyzstan (X tons) were the main destinations of exports of sunflower-seed or safflower oil, refined, but not chemically modified from Russia, together comprising X% of total exports. Armenia, Georgia, Azerbaijan, Tajikistan, Mongolia and Jordan lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Kazakhstan ($X) and Kyrgyzstan ($X) were the largest markets for sunflower-seed or safflower oil, refined, but not chemically modified exported from Russia worldwide, together accounting for X% of total exports. Armenia, Georgia, Tajikistan, Azerbaijan, Mongolia and Jordan lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Jordan, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2022, growing by X% against the previous year. Overall, export price indicated a modest 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, export price for sunflower-seed or safflower oil, refined, but not chemically modified increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Jordan ($X per ton) and Tajikistan ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) and Kazakhstan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into the Russian Federation

In 2022, purchases abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. Overall, imports showed a sharp setback. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified declined remarkably to $X in 2022. In general, imports continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports of reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Belgium (X tons), Spain (X tons) and Kazakhstan (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to Russia, together accounting for X% of total imports. Germany, Italy, Poland, Latvia and Ukraine lagged somewhat behind, together accounting for a further X%.

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

In value terms, Spain ($X), Germany ($X) and Belgium ($X) were the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to Russia, together accounting for X% of total imports. Poland, Italy, Latvia, Kazakhstan and Ukraine lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 2022, increasing by X% against the previous year. Over the period under review, the import price enjoyed prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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