Refined sunflower or safflower oil and fractions market in Greece

Earlier Report Observations

The market volume for refined sunflower and safflower oil in Greece contracted from 56 467 t in 2018 to 48 819 t in 2020. A turnaround began in 2021, with the market expanding to 58 767 t, supported by the implementation of Law 4819/2021, which established a comprehensive waste management framework affecting chemical substances and oil industry practices. Growth continued into 2022, reaching 64 461 t.

From 2023 onward, the market accelerated sharply, jumping to 91 808 t and further to 101 019 t in 2024. This surge coincided with intensified adulteration checks by EFET, ongoing harmonization of trade standards with international bodies, and stricter labeling rules mandating origin and harvest year disclosure for oils. Concurrently, heightened consumer focus on quality and food safety underpinned broader market expansion.

Production refined sunflower or safflower oil and fractions in Greece

In value, 2017-2020, K $ US

Greece's production of refined sunflower or safflower oil and fractions has increased for the second year in a row. In 2020, output reached 38 316 K $ US, showing a significant year-on-year growth of 15.1%. The lowest value was recorded in 2018 at 31 972 K $ US, which also saw the largest decline of 18.1%.

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

In kind, 2017-2020, t

Greece's production of refined sunflower or safflower oil and fractions has risen for the second consecutive year. In 2020, the country produced 35 875 t, reflecting a modest increase of 4.5% compared to 2019. From 2017 to 2020, overall production grew by 3%, equivalent to an annualized rate of 1.0%. The lowest output was in 2018 at 28 772 t, which experienced the largest decline of 17.4%. In contrast, 2019 saw the largest increase of 19.3%.

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

Exports refined sunflower or safflower oil and fractions from Greece

Exports in kind, t

The market displayed volatility during the observed period. Exports reached their lowest point in 2017 and peaked in 2019, with a threefold difference between these years. In 2020, Greece exported 1 933 t of refined sunflower or safflower oil and fractions, down 7.5% from the previous year. The highest volume was recorded in 2019 at 2 088 t, while 2018 saw the largest increase of 181.7%.

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

From 2017 to 2020, the main buyers of refined sunflower or safflower oil and fractions from Greece were Cyprus, Italy, and Bulgaria, accounting for 35.8%, 14.1%, and 10.1% of exports in kind, respectively. Together, these three countries comprised 60.0% of total exports in kind.

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

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

Exports in value, K $ US

The market showed an unstable trend over this timeframe. Import levels fluctuated 3.6 times between the low in 2017 and the high in 2018. In 2020, Greece exported 2 421 K $ US of refined sunflower or safflower oil and fractions, up 3.9% from 2019. The highest value was in 2018 at 3 308 K $ US, which also experienced the largest increase of 259.6%. The largest decline occurred in 2019, with a drop of 29.6%.

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

Between 2017 and 2020, Cyprus, Italy, and the United States were consistently the main destinations for Greece's exports in value terms, accounting for 37.4%, 12.6%, and 10.1% of total flows, respectively. Together, they made up 60.1% of total export value.

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

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

Imports refined sunflower or safflower oil and fractions to Greece

Imports in kind, t

Greece's imports of refined sunflower or safflower oil and fractions have declined for the third year in a row. In 2020, the country imported 14 877 t, marking a sharp decrease of 31.6% compared to 2019. From 2017 to 2020, imports fell by 49.9%, with a compound annual growth rate of -20.6%.

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

From 2017 to 2020, imports in kind of refined sunflower or safflower oil and fractions to Greece were heavily concentrated on Bulgaria, which accounted for 82.7% of total flows. Other countries together made up the remaining share.

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

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

Imports in value, K $ US

Greece's imports of refined sunflower or safflower oil and fractions have decreased for the third consecutive year. In 2020, the country imported approximately 15 127 K $ US, reflecting a substantial reduction of 20.1% from 2019. Over the period 2017-2020, imports dropped by 46.4%, with a compound annual growth rate of -18.8%.

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

Throughout 2017 to 2020, Bulgaria clearly dominated imports in value terms of refined sunflower or safflower oil and fractions to Greece, holding 79.9% of total flows. Other countries each had significantly smaller shares.

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

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