Australia and Oceania: Safflower Seed Market 2024

Safflower Seed Market Size in Australia and Oceania

The safflower seed market in Australia and Oceania dropped to $X in 2023, with a decrease of X% against the previous year. The total consumption indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2018 indices. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Safflower Seed Production in Australia and Oceania

In value terms, safflower seed production declined to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2022 when the production volume increased by X%. As a result, production attained the peak level of $X, and then shrank in the following year.

Australia (X tons) constituted the country with the largest volume of safflower seed production, comprising approx. X% of total volume.

In Australia, safflower seed production plunged by an average annual rate of X% over the period from 2012-2023.

The average safflower seed yield stood at X tons per ha in 2023, almost unchanged from the year before. In general, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2023, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the total area harvested in terms of safflower seed production in Australia and Oceania contracted modestly to X ha, remaining relatively unchanged against the previous year. Over the period under review, the harvested area showed a perceptible slump. The growth pace was the most rapid in 2016 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2023, the harvested area remained at a lower figure.

Safflower Seed Exports

Exports in Australia and Oceania

For the third year in a row, Australia and Oceania recorded decline in shipments abroad of safflower seed, which decreased by X% to X kg in 2023. Over the period under review, exports continue to indicate a dramatic shrinkage. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, safflower seed exports shrank sharply to $X in 2023. In general, exports recorded a dramatic contraction. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of safflower seed, namely Australia, represented more than two-thirds of total export.

Australia was also the fastest-growing in terms of the safflower seed exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest safflower seed supplier in Australia and Oceania.

In Australia, safflower seed exports contracted by an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Australia and Oceania amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price, however, showed resilient growth. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2023, the rate of growth in terms of prices for Australia amounted to X% per year.

Safflower Seed Imports

Imports in Australia and Oceania

In 2023, safflower seed imports in Australia and Oceania contracted modestly to X tons, waning by X% on 2022. In general, imports continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports remained at a lower figure.

In value terms, safflower seed imports reduced rapidly to $X in 2023. Over the period under review, imports recorded a noticeable decline. The pace of growth was the most pronounced in 2016 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

New Zealand dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2023. Fiji (X kg) held a relatively small share of total imports.

Imports into New Zealand decreased at an average annual rate of X% from 2012 to 2023. At the same time, Fiji (X%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of New Zealand increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) constitutes the largest market for imported safflower seed in Australia and Oceania, comprising X% of total imports. The second position in the ranking was taken by Fiji ($X), with an X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in New Zealand totaled X%.

Import Prices by Country

In 2023, the import price in Australia and Oceania amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price showed a slight decrease. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2022, and then reduced notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Fiji ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Fiji (X%).

Source: IndexBox Platform