Brazil: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Brazil

The Brazilian market for crude sunflower-seed and safflower oil reduced remarkably to $X in 2023, with a decrease of X% against the previous year. Over the period under review, consumption, however, saw a moderate expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Production of Crude Sunflower-Seed And Safflower Oil in Brazil

In value terms, crude sunflower-seed and safflower oil production shrank markedly to $X in 2023 estimated in export price. Overall, production, however, posted a remarkable increase. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2022, and then declined sharply in the following year.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Brazil

In 2023, after five years of growth, there was significant decline in shipments abroad of crude sunflower-seed and safflower oil, when their volume decreased by X% to X tons. In general, exports, however, showed a significant increase. The growth pace was the most rapid in 2015 with an increase of X,535%. As a result, the exports reached the peak of X tons. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, crude sunflower-seed and safflower oil exports contracted significantly to $X in 2023. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by X,421% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Liberia (X tons), Panama (X tons) and Marshall Islands (X tons) were the main destinations of crude sunflower-seed and safflower oil exports from Brazil, together accounting for X% of total exports. Hong Kong SAR, China, Singapore and India lagged somewhat behind, together accounting for a further X%.

From 2013 to 2023, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Liberia ($X), Panama ($X) and Marshall Islands ($X) were the largest markets for crude sunflower-seed and safflower oil exported from Brazil worldwide, together comprising X% of total exports. Singapore, Hong Kong SAR, China and India lagged somewhat behind, together comprising a further X%.

Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, recorded a notable increase. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2022, and then fell slightly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Marshall Islands ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Marshall Islands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Brazil

In 2023, purchases abroad of crude sunflower-seed and safflower oil was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports, however, recorded a slight contraction. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil imports fell significantly to $X in 2023. Over the period under review, imports, however, saw a mild setback. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Argentina (X tons) constituted the largest crude sunflower-seed and safflower oil supplier to Brazil, accounting for a X% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Argentina exceeded the figures recorded by the second-largest supplier, Bolivia (X tons), sixfold.

From 2012 to 2023, the average annual growth rate of volume from Argentina totaled X%.

In value terms, Argentina ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to Brazil, comprising X% of total imports. The second position in the ranking was taken by Bolivia ($X), with a X% share of total imports.

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

Import Prices by Country

In 2023, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2022, and then shrank notably in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Bolivia totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform