Sunflower or safflower oil and fractions market in Oceania

Earlier Report Observations

Australian production of sunflower or safflower oil and fractions increased consistently from 8.3 thousand tons in 2018 to 16.3 thousand tons in 2023. This growth was initially supported by CSIRO's development of genetically modified super high oleic safflower, which provided a foundation for niche industrial and food oil markets. Commercial safflower crops began to expand in Western Australia and other states, facilitated by research trials and the Crop Biofactories Initiative.

A significant boost occurred in 2022 when global demand for vegetable oil alternatives rose sharply due to supply disruptions from the war in Ukraine. Australian high oleic safflower oil gained attention as a sustainable substitute, leading Plenty Foods to invest $7 million in a state-of-the-art processing facility. This investment enabled the launch of the first Australian-made super high oleic safflower oil for food use, further stimulating domestic production.

Despite ongoing challenges such as seed collection delays and frost damage in 2023-2024, the industry maintained its growth trajectory. The market volume for sunflower or safflower oil, however, fluctuated over the period, peaking at 116.8 thousand tons in 2020 before declining to 71.7 thousand tons in 2023, reflecting changes in import levels alongside rising domestic output.

Production sunflower or safflower oil and fractions in Oceania

In kind, 2017-2020, t

Top producers of sunflower or safflower oil and fractions, 2017-2020

World map of production of sunflower or safflower oil and fractions, 2017-2020

Production of sunflower or safflower oil and fractions in Oceania has increased for the second year in a row. In 2020, Oceania produced 10 180 tonnes, showing a solid 15.6% growth compared to 2019. However, looking at the broader period from 2017 to 2020, overall production actually decreased by 7.1%, which translates to an average annual decline of 2.4%. The lowest production level was recorded in 2018 at 8 260 tonnes, which also saw the largest drop of 24.6% during this timeframe.

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

Exports sunflower or safflower oil and fractions from Oceania

Exports in kind, K t

Oceania's exports of sunflower or safflower oil and fractions have declined for the third consecutive year. In 2020, exports amounted to 0.7 thousand tonnes, representing a 17.7% decrease compared to the previous year. Over the period from 2017 to 2020, exports fell significantly by 61.4%, with a compound annual growth rate of -27.2%.

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

From 2017 to 2020, exports of sunflower or safflower oil and fractions from Oceania were not heavily concentrated among a few key destinations. Singapore accounted for 16.6% of exports, the Philippines for 13.0%, and Vietnam for 9.1%. Together, these three countries represented only 38.7% of total export flows.

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

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

Exports in value, M $ US

In 2020, the value of sunflower or safflower oil and fractions exports from Oceania reached 2.6 million US dollars, down by 10.4% from the previous year. The lowest value was recorded in 2018 at 1.8 million US dollars, which also saw the largest decline of 32.4%. In contrast, 2019 marked the peak at 2.9 million US dollars, with the highest increase of 63.4%.

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

Data from 2017 to 2020 shows that exports of sunflower or safflower oil and fractions from Oceania in value terms were not concentrated on just a few destinations. Singapore contributed 15.1% of export value, the Philippines 12.8%, and Vietnam 11.9%. Combined, these three countries accounted for only 39.8% of total export flows.

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

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

Imports sunflower or safflower oil and fractions to Oceania

Imports in kind, K t

Imports of sunflower or safflower oil and fractions into Oceania have increased for the second consecutive year. In 2020, import volume stood at 107.3 thousand tonnes, up by 7.0% compared to 2019. Over the period from 2017 to 2020, imports grew by 17.3%, with a compound annual growth rate of 5.4%. The lowest volume was recorded in 2018 at 88.3 thousand tonnes, which also experienced the largest decline of 3.5%. The highest increase occurred in 2019, with a growth of 13.6%.

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

From 2017 to 2020, imports of sunflower or safflower oil and fractions into Oceania were highly concentrated among three main suppliers. Argentina accounted for 32.9% of imports, Ukraine for 25.1%, and Malaysia for 24.4%. Together, these countries represented 82.4% of total import flows, making them the primary sources.

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

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

Imports in value, M $ US

Imports of sunflower or safflower oil and fractions into Oceania have increased for the third consecutive year. In 2020, import value totaled 120.6 million US dollars, marking a 9.3% gain compared to 2019. Over the period from 2017 to 2020, imports rose by 27.5%, with a compound annual growth rate of 8.4%.

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

From 2017 to 2020, Argentina, Malaysia, and Ukraine remained the top suppliers of sunflower or safflower oil and fractions to Oceania in value terms. Argentina accounted for 29.1% of import value, Malaysia for 25.9%, and Ukraine for 23.8%. Collectively, these three countries represented 78.8% of total import flows.

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

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