Safflower seeds market in Northern America

Earlier Report Observations

The safflower seeds market in Northern America contracted significantly from 2018 to 2021, with market volume falling from 107 thousand tons to 60 thousand tons. This decline was accompanied by a drop in market value, which bottomed out at around 51 million dollars in 2021 after starting at 67 million dollars in 2018.

A sharp reversal occurred in 2022, as market volume rebounded to 73 thousand tons and value surged to 69 million dollars. This growth was driven by increased demand for safflower by-products in livestock feed, particularly due to rising poultry meat consumption in the United States. Simultaneously, greater consumer awareness of safflower oil's health benefits boosted demand, while global supply chain pressures and currency fluctuations pushed import prices to a peak, inflating the market's dollar value.

The market corrected in 2023, with volume shrinking to 61 thousand tons and value plummeting to 48 million dollars. This coincided with a recorded decline in safflower seed imports into the United States after a 2022 high, and a fall in global import prices as crop outlooks improved. Advances in processing technology continued to support product quality, but the overall market adjusted from the previous year's highs.

Production safflower seeds in Northern America

In kind, 2017-2020, K t

Top producers of safflower seeds, 2017-2020

World map of production of safflower seeds, 2017-2020

Safflower seeds production in Northern America has declined for the second year in a row. In 2019, production reached 87.5 K t, but by 2020 it had dropped to 69.0 K t, representing a significant 21.1% decrease. Over the period from 2017 to 2020, production fell by 13.6%, which translates to an average annual decline of 4.7%. The peak production was recorded in 2018 at 107.2 K t, marking the largest increase of 34.2% during the observed timeframe.

Annual dynamics of production in Northern America in kind, 2017-2020, K t

In value, 2017-2020, K $ US

Safflower seeds production in Northern America has declined for the second consecutive year. In 2019, the output was valued at 57 000 K $ US, but in 2020 it decreased to 49 278 K $ US, a substantial reduction of 13.6%. The highest value was recorded in 2018 at 66 761 K $ US, which saw the largest increase of 35.8%. The most significant decline occurred in 2019, with a drop of 14.6%.

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

Exports safflower seeds from Northern America

Exports in kind, t

The market displayed volatility during the observed period. Exports varied significantly, with a low of 240 t in 2017 and a high of 1 012 t in 2019, representing a 4.2-fold difference. In 2020, exported volumes from Northern America amounted to 552 t, down by 45.4% from the previous year. The largest increase was recorded in 2019 at 146.2%.

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

From 2017 to 2020, Vietnam and Colombia were the primary buyers of safflower seeds from Northern America, together accounting for 13.2% of total exports in kind.

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

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

Exports in value, K $ US

The market showed signs of volatility over the observed period. Exports fluctuated between a minimum of 150 K $ US in 2017 and a maximum of 660 K $ US in 2019, a 4.4-fold variation. In 2020, Northern America exported 394 K $ US of safflower seeds, which is 40.2% less than the previous year. The largest increase was recorded in 2019 at 157.7%.

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

Throughout 2017 to 2020, Vietnam and Colombia remained the principal buyers of safflower seeds from Northern America, together forming 6.3% of total exports in value terms.

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

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

Imports safflower seeds to Northern America

Imports in kind, t

The market exhibited an unstable trend throughout the timeframe. Imports fluctuated between a low of 28 t in 2018 and a high of 130 t in 2020, a 4.7-fold difference. In 2020, cross-border shipments to Northern America stood at 130 t, reflecting a sharp increase of 152.2% compared to the previous year. The largest decline was recorded in 2018 at 51.5%.

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

Over the period from 2017 to 2020, Bulgaria and China were the key sources for imports in kind, accounting for 4.1% of total flows.

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

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

Imports in value, K $ US

Foreign safflower seeds supplies to Northern America increased for the second consecutive year. In 2019, imports were at 934 K $ US, rising to 1 390 K $ US in 2020, a gain of 48.8% year-over-year. Over the period from 2017 to 2020, imports grew by 94.4%, with a compound annual growth rate of 24.8%. The lowest value was recorded in 2018 at 662 K $ US, which saw the largest decline of 7.4%.

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

From 2017 to 2020, Bulgaria and China together accounted for the main share of imports in value terms, at 6.5% of total flows.

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

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