Overview of the Global Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

In 2021, the global market for sunflower-seed or safflower oil, refined, but not chemically modified decreased by -6.5% to $X for the first time since 2014, thus ending a six-year rising trend. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $X in 2020, and then reduced in the following year.

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

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 20% against the previous year. Over the period under review, global production of reached the peak level at $X in 2020, and then fell in the following year.

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

Exports

In 2021, 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 -13.3% to X tons. In general, total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by 16%. The global exports peaked at X tons in 2020, and then contracted in the following year.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2021. Over the period under review, total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.3% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Ukraine (X tons), Turkey (X tons) and Russia (X tons) was the main exporter of sunflower-seed or safflower oil, refined, but not chemically modified in the world, achieving 40% of total export. Hungary (X tons) took the next position in the ranking, followed by France (X tons), the Netherlands (X tons), Spain (X tons) and Germany (X tons). All these countries together took approx. 30% share of total exports. Belgium (X tons), Malaysia (X tons), Argentina (X tons), Romania (X tons) and Serbia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Ukraine (with a CAGR of +12.2%), while the other global leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Ukraine ($X) and Russia ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 40% of global exports.

Among the main exporting countries, Ukraine, with a CAGR of +13.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, jumping by 42% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The global export price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Spain ($X per ton) and Turkey ($X per ton), while Malaysia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+1.2%), while the other global leaders experienced more modest paces of growth.

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

Imports

In 2021, supplies from abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -14.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.0% against 2017 indices. The growth pace was the most rapid in 2017 when imports increased by 23% against the previous year. Over the period under review, global imports of reached the maximum at X tons in 2020, and then fell in the following year.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified skyrocketed to $X in 2021. Overall, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +51.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 24% against the previous year. Over the period under review, global imports of attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Belgium (X tons), followed by Uzbekistan (X tons) were the largest importers of sunflower-seed or safflower oil, refined, but not chemically modified, together achieving 12% of total imports. The Netherlands (X tons), the UK (X tons), France (X tons), Poland (X tons), Germany (X tons), Djibouti (X tons), Yemen (X tons), Syrian Arab Republic (X tons), Austria (X tons), the United States (X tons) and Belarus (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were in Djibouti (with a CAGR of +83.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest sunflower-seed or safflower oil, refined, but not chemically modified importing markets worldwide were Belgium ($X), Uzbekistan ($X) and the Netherlands ($X), together accounting for 16% of global imports. These countries were followed by the UK, France, Poland, Germany, Djibouti, the United States, Yemen, Syrian Arab Republic, Austria and Belarus, which together accounted for a further 31%.

Djibouti, with a CAGR of +82.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, picking up by 43% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the United States ($X per ton) and France ($X per ton), while Austria ($X per ton) and Belarus ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+13.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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