Saudi Arabia: 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 Saudi Arabia

In 2022, the Saudi market for sunflower-seed or safflower oil, refined, but not chemically modified was finally on the rise to reach $X after two years of decline. Over the period under review, consumption enjoyed prominent growth. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified dropped modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Production of peaked at $X in 2019; afterwards, it flattened through to 2022.

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

Exports from Saudi Arabia

In 2022, after two years of growth, there was significant decline in shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume decreased by X% to X tons. Overall, exports continue to indicate a mild descent. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified fell rapidly to $X in 2022. In general, exports saw a perceptible downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then dropped sharply in the following year.

Exports by Country

Jordan (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Saudi Arabia, accounting for a X% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Jordan exceeded the volume sent to the second major destination, Kuwait (X tons), fourfold. The third position in this ranking was taken by Oman (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Jordan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (X% per year) and Oman (X% per year).

In value terms, Jordan ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Jordan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the average export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, declining by X% against the previous year. Overall, the export price saw a mild decline. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Oman ($X per ton) and Kuwait ($X per ton), while the average price for exports to Jordan ($X per ton) and the United Arab Emirates ($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 Lebanon (X%), while the prices for the other major destinations experienced a decline.

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

Imports into Saudi Arabia

In 2022, after three years of decline, there was significant growth in purchases abroad of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume increased by X% to X tons. In general, imports, however, continue to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified reached $X in 2022. Overall, imports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Saudi Arabia, with a X% share of total imports. Moreover, imports of sunflower-seed or safflower oil, refined, but not chemically modified from Ukraine exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Kuwait (X tons) 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 Ukraine totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Kuwait (X% per year).

In value terms, Ukraine ($X) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Saudi Arabia, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

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

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, which is down by X% against the previous year. Overall, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while the price for Malaysia ($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 prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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