Sunflower, safflower or cottonseed oil and fractions market in Eastern Asia

Earlier Report Observations

The market for sunflower, safflower, and cottonseed oils in Eastern Asia grew strongly from 2.3 million tons in 2018 to 3.6 million tons in 2020. This expansion was primarily fueled by rising consumer demand for healthier oils, particularly sunflower and safflower oil, which are valued for their high linoleic acid content and cardiovascular benefits. The growing health consciousness stimulated imports, which more than doubled from 781,000 tons in 2018 to over 2 million tons in 2020, significantly increasing total market volume. During this period, the industry also focused on product diversification and developing functional oils, such as those tailored for pregnant women, which further supported consumption.

Following the 2020 peak, the market volume contracted to 2.9 million tons in 2021 and further to 2.3 million tons in 2022. The sharp decline in 2022 was directly linked to the Russia-Ukraine conflict, which disrupted global trade flows and restricted sunflower oil imports into the region. This led to tight domestic supply and rising prices, reducing the total available market volume.

In 2023, the market rebounded to 3.2 million tons. This recovery was driven by a renewed increase in sunflower oil imports, chiefly from Russia and Ukraine, as import costs fell and supply chain pressures eased. The improved availability of imported oil allowed the total market volume to grow again, offsetting the previous year's constraints.

Production sunflower, safflower or cottonseed oil and fractions in Eastern Asia

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

Eastern Asia's production of sunflower, safflower, or cottonseed oil and fractions saw growth for two consecutive years before declining. In 2019, output peaked at 1 574 K t, but by 2020 it had fallen to 1 550 K t, representing a 1.5% decrease. Over the period from 2017 to 2020, production increased by 5.8%, which translates to an average annual growth rate of 1.9%. The most significant year-on-year increase occurred in 2018, when production rose by 5.9%.

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

In value, 2017-2020, M $ US

In 2020, the value of sunflower, safflower, or cottonseed oil and fractions produced in Eastern Asia reached 2 143 M $ US, marking a substantial 21.3% increase compared to 2019. The highest value was recorded in 2018 at 2 281 M $ US, followed by a 22.6% decline in 2019. From 2017 to 2020, the overall value grew by 25.5%, averaging 7.9% per year. The most notable increase happened in 2018, with a 33.6% rise, while the largest decrease was in 2019.

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

Exports sunflower, safflower or cottonseed oil and fractions from Eastern Asia

Exports in kind, K t

Export volumes of sunflower, safflower, or cottonseed oil and fractions from Eastern Asia showed significant volatility during this period. In 2018, exports hit a low of 2 K t, but surged to 7 K t in 2019—a 219.5% increase and the peak for the period. By 2020, exports dropped to 6 K t, down 22.0% from the previous year. The difference between the 2019 high and 2018 low was 3.2-fold. The sharpest decline occurred in 2018, falling 35.2%.

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

From 2017 to 2020, the primary destinations for Eastern Asia's exports of sunflower, safflower, or cottonseed oil and fractions in volume terms were Malaysia, Singapore, and Thailand. Malaysia accounted for 47.9% of exports, Singapore for 23.0%, and Thailand for 7.1%. Together, these three countries represented 78.1% of total export flows.

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

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

Exports in value, M $ US

The value of exports from Eastern Asia for sunflower, safflower, or cottonseed oil and fractions exhibited notable fluctuations. In 2018, export value was at its lowest at 3 M $ US, but jumped to 8 M $ US in 2019—a 143.7% increase and the highest point. By 2020, it slightly decreased to 8 M $ US, down 3.9% from 2019. The gap between the 2019 peak and 2018 trough was 2.4-fold. The most significant drop was in 2018, with an 18.3% decline.

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

Between 2017 and 2020, Malaysia, Singapore, and Thailand were the leading markets for Eastern Asia's exports of sunflower, safflower, or cottonseed oil and fractions in value terms. Malaysia held a 38.6% share, Singapore 19.6%, and Thailand 12.0%. Collectively, these three countries absorbed 70.2% of total export value.

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

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

Imports sunflower, safflower or cottonseed oil and fractions to Eastern Asia

Imports in kind, K t

Imports of sunflower, safflower, or cottonseed oil and fractions into Eastern Asia grew for the second year in a row. In 2018, imports were at their lowest at 781 K t, but increased by 68.6% in 2019. By 2020, imports reached 2 044 K t, up 55.3% from the previous year. Over the 2017-2020 period, imports rose by 150.4%, with an average annual growth rate of 35.8%. The only decline was in 2018, at 4.3%.

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

From 2017 to 2020, Ukraine and Russia dominated Eastern Asia's imports of sunflower, safflower, or cottonseed oil and fractions in volume terms. Together, they accounted for 91.8% of total import flows, with the remaining share distributed among other countries.

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

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

Imports in value, M $ US

The value of imports for sunflower, safflower, or cottonseed oil and fractions into Eastern Asia continued to rise for the second consecutive year. In 2018, import value was at a low of 664 M $ US, but by 2020 it had climbed to 1 676 M $ US, a 63.5% increase from 2019. Over the 2017-2020 span, import value grew by 136.7%, averaging 33.3% per year. The only decrease was in 2018, with a 6.2% drop.

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

During 2017-2020, Ukraine and Russia were the key sources for Eastern Asia's imports of sunflower, safflower, or cottonseed oil and fractions in value terms. They jointly captured 88.8% of total import value, while other markets accounted for the remainder.

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

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