South-Eastern Asia: Safflower Seed Market 2024

Safflower Seed Market Size in South-Eastern Asia

The Southeast Asian safflower seed market soared to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption posted a buoyant expansion. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Safflower Seed Production in South-Eastern Asia

In value terms, safflower seed production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production saw significant growth. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The country with the largest volume of safflower seed production was Indonesia (X tons), accounting for X% of total volume. Moreover, safflower seed production in Indonesia exceeded the figures recorded by the second-largest producer, Myanmar (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Indonesia totaled X%. In the other countries, the average annual rates were as follows: Myanmar (X% per year) and Singapore (X% per year).

Safflower Seed Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of safflower seed were exported in South-Eastern Asia; rising by X% against 2021 figures. Overall, exports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, safflower seed exports soared to $X in 2022. In general, exports saw a strong expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Indonesia was the largest exporting country with an export of around X tons, which finished at X% of total exports. Singapore (X tons) held the second position in the ranking, followed by the Philippines (X tons). All these countries together held near X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to safflower seed exports from Indonesia stood at X%. At the same time, Singapore (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, the Philippines (X%) illustrated a downward trend over the same period. While the share of Indonesia (X p.p.) and Singapore (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Philippines (X p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) emerged as the largest safflower seed supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and the Philippines (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price continues to indicate a significant expansion. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

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 Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Safflower Seed Imports

Imports in South-Eastern Asia

For the fifth year in a row, South-Eastern Asia recorded growth in purchases abroad of safflower seed, which increased by X% to X tons in 2022. Overall, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, safflower seed imports skyrocketed to $X in 2022. Over the period under review, imports saw resilient growth. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The Philippines prevails in imports structure, reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Vietnam (X tons), committing a X% share of total imports. Thailand (X tons) followed a long way behind the leaders.

Imports into the Philippines increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. While the share of Vietnam (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Philippines (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported safflower seed in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the Philippines totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Vietnam ($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 Philippines (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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