Sunflower or safflower oil and fractions market in Bosnia and Herzegovina

Earlier Report Observations

The market for sunflower and safflower oil in Bosnia and Herzegovina exhibited notable movements between 2018 and 2021. Volume expanded from 37,000 t in 2018 to 43,800 t in 2019. A contraction to 35,600 t followed in 2020, a decline that coincided with the widespread supply chain and trade disruptions caused by the COVID-19 pandemic. The market then rebounded sharply, reaching 59,500 t in 2021.

After 2021, market volume entered a phase of fluctuation, easing to 57,300 t in 2022 and further to 50,900 t in 2023. During 2023, Bosnia and Herzegovina recorded export shipments of sunflower-seed oil to Palestine. By 2024, volume had partially recovered to 56,400 t, a period marked by global supply chain disruptions and price volatility in key producing nations like Ukraine and Russia.

In value terms, the market followed a similar volatile pattern, rising from $87.2 million in 2021 to a peak of $111.3 million in 2022. It then fell sharply to $67.8 million in 2023 before recovering to $78.1 million in 2024, reflecting significant price changes alongside the shifts in physical volume.

Production sunflower or safflower oil and fractions in Bosnia and Herzegovina

In value, 2018-2021, K $ US

Annual dynamics of production in Bosnia and Herzegovina in value, 2018-2021, K $ US

In kind, 2018-2021, t

Top producers of sunflower or safflower oil and fractions, 2018-2021

World map of production of sunflower or safflower oil and fractions, 2018-2021

In Bosnia and Herzegovina, production of sunflower or safflower oil and fractions reached 46 244 tons in 2021. This represents a significant 48.2% increase compared to the previous year. Looking at the broader period from 2018 to 2021, production grew by 39.3%, which translates to an average annual growth rate of 11.7%. The lowest production level was recorded in 2020 at 31 200 tons, which also saw the largest decline of 20.8% during this period.

Annual dynamics of production in Bosnia and Herzegovina in kind, 2018-2021, t

Exports sunflower or safflower oil and fractions from Bosnia and Herzegovina

Exports in kind, t

Bosnia and Herzegovina's exports of sunflower or safflower oil and fractions declined for the second year in a row. In 2021, export volume totaled 27 907 tons, marking a sharp 54.5% decrease from 2020. Over the four-year span from 2018 to 2021, exports fell by 60.7%, averaging an annual decline of 26.8%. The peak export volume was in 2019 at 75 444 tons, which also experienced the largest increase of 6.2% that year.

Annual dynamics of product's exports from Bosnia and Herzegovina in kind, 2018-2021, t

From 2018 to 2021, Turkey was the primary destination for Bosnia and Herzegovina's exports of sunflower or safflower oil and fractions, accounting for 81.3% of total export volume. Other trading partners held relatively smaller shares during this period.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Bosnia and Herzegovina in kind, 2018-2021

Exports in value, K $ US

The value of Bosnia and Herzegovina's exports of sunflower or safflower oil and fractions decreased for the second consecutive year. In 2021, export value stood at 39 252 thousand US dollars, reflecting a 32.1% drop compared to the previous year. Between 2018 and 2021, export value declined by 38.3%, with an average annual decrease of 14.8%. The highest export value was recorded in 2019 at 64 355 thousand US dollars, which saw a modest increase of 1.2% that year.

Annual dynamics of product's exports from Bosnia and Herzegovina in value, 2018-2021, K $ US

During the 2018-2021 period, Turkey dominated as the main buyer of sunflower or safflower oil and fractions from Bosnia and Herzegovina in value terms, representing 76.6% of total export value. The remaining share was distributed among other countries.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Bosnia and Herzegovina in value, 2018-2021

Imports sunflower or safflower oil and fractions to Bosnia and Herzegovina

Imports in kind, t

Imports of sunflower or safflower oil and fractions into Bosnia and Herzegovina fell for the second year in a row. In 2021, import volume was 41 131 tons, showing a substantial 37.4% reduction from the prior year. From 2018 to 2021, imports decreased by 45%, with an average annual decline of 18.1%. The highest import volume occurred in 2019 at 79 841 tons, which also recorded the largest increase of 6.7% that year.

Annual dynamics of product's imports to Bosnia and Herzegovina in kind, 2018-2021, t

Between 2018 and 2021, Serbia and Hungary were the leading suppliers of sunflower or safflower oil and fractions to Bosnia and Herzegovina, together making up 82.6% of total import volume. The rest was spread across various other countries.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Bosnia and Herzegovina in kind, 2018-2021

Imports in value, K $ US

The value of imported sunflower or safflower oil and fractions in Bosnia and Herzegovina dropped for the third consecutive year. In 2021, import value was recorded at 60 077 thousand US dollars, down 0.8% from 2020. Over the 2018-2021 period, import value decreased by 6.1%, averaging an annual decline of 2.1%.

Annual dynamics of product's imports to Bosnia and Herzegovina in value, 2018-2021, K $ US

From 2018 to 2021, Serbia and Hungary clearly led as the main suppliers in value terms for Bosnia and Herzegovina's imports of sunflower or safflower oil and fractions, with other countries accounting for the remainder.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Bosnia and Herzegovina in value, 2018-2021