Overview of the Global Market for Crude Sunflower-Seed And Safflower Oil

Market Size for Crude Sunflower-Seed And Safflower Oil

After four years of growth, the global market for crude sunflower-seed and safflower oil decreased by X% to $X in 2023. Over the period under review, the total consumption indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2015 indices. Over the period under review, the global market hit record highs at $X in 2022, and then shrank in the following year.

Production of Crude Sunflower-Seed And Safflower Oil

In value terms, crude sunflower-seed and safflower oil production shrank rapidly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a moderate expansion 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. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, global production hit record highs at $X in 2022, and then dropped markedly in the following year.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports

In 2023, global crude sunflower-seed and safflower oil exports surged to X tons, growing by X% on 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the global exports reached the maximum in 2023 and are likely to see gradual growth in the near future.

In value terms, crude sunflower-seed and safflower oil exports declined notably to $X in 2023. In general, exports recorded a perceptible expansion. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

Ukraine represented the major exporting country with an export of around X tons, which accounted for X% of total exports. Russia (X tons) took the second position in the ranking, distantly followed by Argentina (X tons), Bulgaria (X tons) and the Netherlands (X tons). All these countries together held approx. X% share of total exports. Hungary (X tons), Kazakhstan (X tons), Turkey (X tons), Romania (X tons), Moldova (X tons), Poland (X tons) and France (X tons) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to crude sunflower-seed and safflower oil exports from Ukraine stood at X%. At the same time, Turkey (X%), Kazakhstan (X%), Poland (X%), Bulgaria (X%), Moldova (X%), Romania (X%), Hungary (X%), the Netherlands (X%), Russia (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. By contrast, France (X%) illustrated a downward trend over the same period. Bulgaria (X p.p.), Turkey (X p.p.), Kazakhstan (X p.p.) and Poland (X p.p.) significantly strengthened its position in terms of the global exports, while France, Argentina and Ukraine saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest crude sunflower-seed and safflower oil supplying countries worldwide were Ukraine ($X), Russia ($X) and Argentina ($X), together accounting for X% of global exports. Bulgaria, the Netherlands, Hungary, Turkey, Romania, Kazakhstan, France, Poland and Moldova lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Turkey, with a CAGR of X%, recorded 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 2023, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, dropping by X% against the previous year. In general, the export price continues to indicate a mild downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then contracted remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Russia (X%), while the other global leaders experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports

In 2023, the amount of crude sunflower-seed and safflower oil imported worldwide soared to X tons, picking up by X% compared with the previous year's figure. In general, total imports indicated a resilient expansion from 2012 to 2023: its volume 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, imports increased by X% against 2021 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil imports shrank to $X in 2023. Overall, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2023, India (X tons), distantly followed by Turkey (X tons), China (X tons), Spain (X tons) and Italy (X tons) were the key importers of crude sunflower-seed and safflower oil, together generating X% of total imports. The following importers - Egypt (X tons), the Netherlands (X tons), Iraq (X tons), Poland (X tons), Bulgaria (X tons) and Germany (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of global imports. Spain, Italy, Egypt, Iraq, the Netherlands, Poland, Germany and Bulgaria lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2023, the average import price for crude sunflower-seed and safflower oil amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price saw a slight descent. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Global import price peaked at $X per ton in 2022, and then contracted significantly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Germany ($X per ton) and Iraq ($X per ton), while Poland ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iraq (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform