Russian Federation: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in the Russian Federation

The Russian market for crude sunflower-seed and safflower oil rose notably to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Crude Sunflower-Seed And Safflower Oil in the Russian Federation

In value terms, crude sunflower-seed and safflower oil production rose modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

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Exports of Crude Sunflower-Seed And Safflower Oil

Exports from the Russian Federation

In 2022, overseas shipments of crude sunflower-seed and safflower oil decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports soared to $X in 2022. Over the period under review, exports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey (X tons), India (X tons) and China (X tons) were the main destinations of crude sunflower-seed and safflower oil exports from Russia, with a combined X% share of total exports.

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

In value terms, the largest markets for crude sunflower-seed and safflower oil exported from Russia were Turkey ($X), India ($X) and China ($X), with a combined X% share of total exports.

Among the main countries of destination, China, with a CAGR of X%, recorded the highest rates of growth with regard to 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 crude sunflower-seed and safflower oil stood at $X per ton in 2022, picking up by X% against the previous year. Overall, export 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, crude sunflower-seed and safflower oil export price 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. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Egypt ($X per ton) and India ($X per ton), while the average price for exports to Kazakhstan ($X per ton) and the Netherlands ($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 Azerbaijan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into the Russian Federation

Crude sunflower-seed and safflower oil imports into Russia contracted remarkably to X tons in 2022, waning by X% against 2021 figures. In general, imports recorded a sharp reduction. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil imports fell significantly to $X in 2022. Overall, imports saw a dramatic curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of crude sunflower-seed and safflower oil to Russia, with a X% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Lithuania exceeded the figures recorded by the second-largest supplier, Latvia (X tons), more than tenfold. Georgia (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (X% per year) and Georgia (X% per year).

In value terms, Lithuania ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to Russia, comprising X% of total imports. The second position in the ranking was taken by Latvia ($X), with a X% share of total imports. It was followed by Georgia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (X% per year) and Georgia (X% per year).

Import Prices by Country

In 2022, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price posted a buoyant increase. 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 Austria ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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