Crude sunflower or safflower oil and fractions market in Spain

Earlier Report Observations

The market volume for crude sunflower and safflower oil in Spain increased from 500 thousand tons in 2018 to 606 thousand tons in 2020, before declining to 585 thousand tons in 2021. Over the same period, the market value rose steadily from $407 million to $782 million, driven by higher prices. Domestic production saw a significant jump in 2021, reaching 88 thousand tons.

From 2022, the market was reshaped by the war in Ukraine, which disrupted sunflower oil supply chains and caused prices to triple within a year. Spanish consumers increasingly turned to sunflower oil as a more affordable alternative to olive oil amid inflation, leading to purchase restrictions in major supermarkets. Multinational companies ramped up sunflower extraction in Spain to compensate for reduced national production and import dependency.

In 2023 and 2024, sunflower oil sales volume surpassed that of olive oil in Spain, with a 25% higher volume in 2024 due to persistent price advantages. High prices and inflation tempered consumption growth, but demand for blended oils with nutritional benefits emerged. The sector continued to advocate for subsidies to boost domestic sunflower cultivation and reduce import reliance.

Production crude sunflower or safflower oil and fractions in Spain

In value, 2017-2020, K $ US

Spain's production of crude sunflower or safflower oil and fractions has increased in value for the second year in a row. In 2020, output was valued at 60 155 thousand US dollars, showing a modest 6.7% rise compared to 2019. The lowest value was recorded in 2018 at 54 338 thousand US dollars, which also saw the largest decline of 8.0%.

Annual dynamics of production in Spain in value, 2017-2020, K $ US

In kind, 2017-2020, t

After two years of growth, Spain's production of crude sunflower or safflower oil and fractions declined in volume. In 2020, production stood at 63 964 tonnes, down 6.7% from the previous year. Over the period from 2017 to 2020, production increased by 12.2%, with an average annual growth rate of 3.9%. The peak was in 2019 at 68 550 tonnes, while the largest increase occurred in 2018 at 10.5%.

Annual dynamics of production in Spain in kind, 2017-2020, t

Exports crude sunflower or safflower oil and fractions from Spain

Exports in kind, K t

In 2020, Spain exported 44.1 thousand tonnes of crude sunflower or safflower oil and fractions, a 21.6% decrease from 2019. From 2017 to 2020, exports fell by 32.7%, equivalent to an annualized decline of 12.3%. The largest drop was in 2018 at 22.3%, while the biggest increase was in 2019 at 10.5%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, K t

Between 2017 and 2020, Portugal, South Africa, and Finland were the main destinations for Spain's exports of crude sunflower or safflower oil and fractions in volume terms. Together, they accounted for 74.1% of total exports, with Portugal leading at 46.0%, followed by South Africa at 22.0%, and Finland at 6.1%.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, M $ US

In 2020, Spain's exports of crude sunflower or safflower oil and fractions totaled 46.1 million US dollars, a 7.3% decrease year-over-year. From 2017 to 2020, exports declined by 21%, with an annualized rate of 7.6%. The lowest value was in 2018 at 42.2 million US dollars, which also saw the largest decline of 27.7%. The biggest increase occurred in 2019 at 17.8%.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

From 2017 to 2020, Portugal, South Africa, and France were the top markets for Spain's exports of crude sunflower or safflower oil and fractions in value terms, collectively absorbing 72.4% of total exports.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports crude sunflower or safflower oil and fractions to Spain

Imports in kind, K t

Spain's imports of crude sunflower or safflower oil and fractions have risen in volume for the second consecutive year. In 2020, imports reached 586.1 thousand tonnes, reflecting a slight 0.9% increase from the previous year. However, over the period from 2017 to 2020, imports decreased by 19.4%, with an annualized decline of 6.9%. The lowest volume was in 2018 at 487.4 thousand tonnes, which also experienced the largest drop of 33.0%. The biggest increase was in 2019 at 19.2%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, K t

Between 2017 and 2020, Ukraine dominated Spain's imports of crude sunflower or safflower oil and fractions in volume terms, accounting for 72.1% of total flows, while other partners made up the remainder.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, M $ US

Spain's imports of crude sunflower or safflower oil and fractions have increased in value for the second year in a row. In 2020, imports were recorded at 499.8 million US dollars, up 10.3% year-over-year. Despite this recent growth, from 2017 to 2020, imports fell by 16.2%, with an annualized decrease of 5.7%. The lowest value was in 2018 at 394.4 million US dollars, which also saw the largest decline of 33.9%. The biggest increase occurred in 2019 at 14.9%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

From 2017 to 2020, Ukraine was the primary source for Spain's imports of crude sunflower or safflower oil and fractions in value terms, representing 70.8% of total imports, with other destinations contributing a smaller share.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020