United Kingdom: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in the UK

The UK sunflower-seed and safflower oil market rose to $X in 2022, growing by X% against the previous year. Overall, consumption saw a slight decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Sunflower-Seed And Safflower Oil in the UK

In value terms, sunflower-seed and safflower oil production dropped to $X in 2022 estimated in export price. In general, production showed a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Sunflower-seed and safflower oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Exports of Sunflower-Seed And Safflower Oil

Exports from the UK

In 2022, overseas shipments of sunflower-seed and safflower oil increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports posted a moderate expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, sunflower-seed and safflower oil exports skyrocketed to $X in 2022. Overall, exports recorded a noticeable expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), Ireland (X tons) and Poland (X tons) were the main destinations of sunflower-seed and safflower oil exports from the UK, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sunflower-seed and safflower oil exported from the UK were the Netherlands ($X), Ireland ($X) and Poland ($X), together comprising X% of total exports. France, the United States, Norway, Germany, Thailand and Belgium lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, the United States, 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 sunflower-seed and safflower oil export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price recorded a slight increase. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

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

Imports of Sunflower-Seed And Safflower Oil

Imports into the UK

In 2022, sunflower-seed and safflower oil imports into the UK shrank rapidly to X tons, waning by X% compared with the previous year. Overall, imports saw a perceptible slump. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sunflower-seed and safflower oil imports rose significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Ukraine (X tons), France (X tons) and Belgium (X tons) were the main suppliers of sunflower-seed and safflower oil imports to the UK, with a combined X% share of total imports. Spain, Bulgaria, Germany, Hungary and the Netherlands lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest sunflower-seed and safflower oil suppliers to the UK were Ukraine ($X), France ($X) and Belgium ($X), together accounting for X% of total imports. Spain, Bulgaria, Hungary, Germany and the Netherlands lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average sunflower-seed and safflower oil import price amounted to $X per ton, rising by X% against the previous year. Overall, import price indicated tangible growth 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, sunflower-seed and safflower oil import price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

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 Hungary ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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