Sunflower, safflower or cottonseed oil and fractions market in ASEAN

Earlier Report Observations

The sunflower, safflower, and cottonseed oil market in ASEAN grew from 179.7 thousand tons in 2018 to 234.4 thousand tons in 2019, driven by the emergence of new product segments such as skincare oils and rising consumer awareness of health benefits. Market volume stabilized near 233.8 thousand tons in 2020 as COVID-19 pandemic disruptions affected supply chains and trade flows, while the launch of new sunflower oil products for biofuel applications began gaining traction.

Increased focus on biofuel production using sunflower oil as feedstock supported demand after the pandemic, but market volume declined to 199.1 thousand tons in 2021 amid intensified regulatory attention on sustainability and quality standards. Global supply disruptions from geopolitical tensions in 2022 prompted ASEAN countries to increase local production efforts, helping lift market volume to 215.4 thousand tons. However, stringent regulatory changes emphasizing traceability, labeling, and sustainability certifications, along with enforcement actions against non-compliant cosmetic products, significantly reduced import availability, causing market volume to drop sharply to 123.4 thousand tons in 2023.

Production sunflower, safflower or cottonseed oil and fractions in ASEAN

In kind, 2017-2020, K t

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

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

ASEAN's production of sunflower, safflower, or cottonseed oil and fractions has declined for the third year in a row. In 2020, the region produced 71.7 K t, marking a slight decrease of 1.3% compared to 2019. Looking at the period from 2017 to 2020, production fell by 11.5%, with an average annual decline of 4.0%.

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

In value, 2017-2020, M $ US

In 2020, the output of sunflower, safflower, or cottonseed oil and fractions in ASEAN was valued at 149.1 M $ US, showing a significant year-on-year reduction of 10.4%. Over the 2017-2020 period, production decreased by 13.7%, with an average annual decline of 4.8%. The largest drop occurred in 2018 at 11.8%, while the biggest increase was in 2019 at 9.2%.

Annual dynamics of production in ASEAN in value, 2017-2020, M $ US

Exports sunflower, safflower or cottonseed oil and fractions from ASEAN

Exports in kind, K t

Market performance showed noticeable fluctuations during this period. The lowest export volume was recorded in 2019 at 50.7 K t, while the highest reached 108.2 K t in 2020, representing a sharp rise of 113.4% compared to the previous year. The peak-to-trough ratio was 2.1 times. The largest decline occurred in 2018 at 28.1%.

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

From 2017 to 2020, ASEAN's exports of sunflower, safflower, or cottonseed oil and fractions were distributed across many different markets. Even the top destinations—Australia, Japan, and Papua New Guinea—together accounted for only 34.7% of total exports in volume terms.

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

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

Exports in value, M $ US

ASEAN's exports of sunflower, safflower, or cottonseed oil and fractions have increased for the third consecutive year. In 2020, exports reached 136.4 M $ US, up by 30.1% compared to the previous year. Over the 2017-2020 period, exports grew by 46.5%, with an average annual growth rate of 13.6%.

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

An analysis of export values from 2017 to 2020 reveals a broad distribution across many markets. Australia (29.0% of export value), Japan (8.8%), and New Zealand (2.5%) together accounted for only 40.4% of total flows, while the remaining 59.6% was spread among numerous other partners.

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

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

Imports sunflower, safflower or cottonseed oil and fractions to ASEAN

Imports in kind, K t

ASEAN's imports of sunflower, safflower, or cottonseed oil and fractions have increased for the third year in a row. In 2020, import volume amounted to 270.4 K t, representing an abrupt increase of 27.2% relative to the prior year. Over the 2017-2020 period, imports rose by 68.8%, with an average annual growth rate of 19.1%.

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

From 2017 to 2020, the main sources for ASEAN's imports of sunflower, safflower, or cottonseed oil and fractions in volume terms were Ukraine (36.7% of imports), Argentina (9.7%), and Russia (8.9%). Together, these three countries accounted for 55.3% of total import flows.

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

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

Imports in value, M $ US

ASEAN's imports of sunflower, safflower, or cottonseed oil and fractions have increased for the third consecutive year. In 2020, imports totaled 300.3 M $ US, up by 34.4% compared to the previous year. Between 2017 and 2020, imports grew by 81.1%, equating to an annualized rate of 21.9%.

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

Over the 2017-2020 period, no single market dominated ASEAN's imports of sunflower, safflower, or cottonseed oil and fractions in value terms. Ukraine (33.4% of import value), Argentina (8.3%), and Russia (8.2%) together took only 49.9% of total imports, with many smaller partners each holding modest individual shares.

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

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