Sunflower Oil Market - Ukraine’s Exports of Sunflower-Seed and Safflower Oil Increased by 8% in 2014

Vegetable And Animal Oils And Fats October 04, 2015
Author: Olga Minchina
Account Manager

sunflower oil market

Ukraine dominates in the global trade of sunflower-seed and safflower oil. In 2014, Ukraine exported 4,096 thousand tonnes of sunflower-seed and safflower oil totaling 3,316 USD, 8% over the previous year. Its primary trading partner on the global sunflower oil market was India, where it supplied 41% of its total exports of sunflower-seed and safflower oil in value terms, accounting for 88% of India's total imports.

Overall, the global trade of sunflower-seed and safflower oil reached 6,195 million USD, with a CAGR of 11% from 2007 to 2014. In physical terms, it increased from 3,919 thousand tonnes in 2007 to 7,222 thousand tonnes in 2014.

In 2014, India (22%), Turkey (17%), China (6%), the Netherlands (6%) and Egypt (6%) were the leading destinations of imports of sunflower-seed and safflower oil, together making up 59% of global imports. The share of India increased significantly (+19 percentage points), while the share of Spain illustrated negative dynamics (-4 percentage points).

The Russian Federation and the Netherlands were among the other main global suppliers of sunflower-seed and safflower oil in 2014 with a combined share of 21% of global exports. However, the fastest growing exporters from 2007 to 2014 were Hungary (+48% per year) and Bulgaria (+32% per year). Ukraine strengthened its position in the global export structure, from 44% in 2007 to 54% in 2014.

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Source: World: Sunflower-Seed And Safflower Oil - Market Report. Analysis And Forecast To 2020