Sunflower, safflower or cottonseed oil and fractions market in GCC

Earlier Report Observations

The GCC market for sunflower, safflower, and cottonseed oils saw its volume grow from 203 thousand tons in 2018 to 281 thousand tons in 2020, while its value hovered between $265 million and $275 million. In 2021, market volume contracted to 224 thousand tons, yet the market value surged by 33% to $353 million, coinciding with a global expansion in portfolios for organic oils, indicating a shift toward higher-value, healthier product variants.

Market volume recovered strongly from 2022, reaching 339 thousand tons by 2023, with value climbing to $482 million. This expansion was primarily driven by rising health consciousness, which boosted demand for non-GMO and organic oils, and by supply disruptions and price increases following the Russia-Ukraine conflict, as both nations are major global sunflower oil producers.

Production sunflower, safflower or cottonseed oil and fractions in GCC

In kind, 2017-2020, 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

In 2020, GCC produced 16,575 tons of sunflower, safflower, or cottonseed oil and fractions, marking a significant 15.4% decline from 2019. Production peaked in 2019 at 19,597 tons, which represented the largest annual increase of 17.2% during the period. Overall, from 2017 to 2020, production decreased by 8.3%, with a compound annual growth rate (CAGR) of -2.8%.

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

In value, 2017-2020, K $ US

In 2020, the output of sunflower, safflower, or cottonseed oil and fractions in GCC was valued at $25,439,000, reflecting an 11.8% decrease from the previous year. The value reached its lowest point in 2018 at $20,990,000, while it peaked in 2019 at $28,852,000, with that year seeing the largest annual increase of 37.5%. Over the 2017-2020 period, production value increased by 18.2%, with a CAGR of 5.7%.

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

Exports sunflower, safflower or cottonseed oil and fractions from GCC

Exports in kind, K t

After two years of decline, GCC's export volume of sunflower, safflower, or cottonseed oil and fractions rebounded in 2020, totaling 72,900 tons, a 27.4% increase from 2019. Exports hit their lowest point in 2019 at 57,200 tons, which also recorded the largest annual decline of 27.9%. From 2017 to 2020, exports decreased by 26.8%, equating to an annualized decline rate of 9.9%.

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

From 2017 to 2020, Jordan, Yemen, and Iran were the top buyers of sunflower, safflower, or cottonseed oil and fractions from GCC, accounting for 15.9%, 5.4%, and 2.5% of exports in kind, respectively. However, their combined share was only 23.8% of total exports, indicating a highly diversified market structure with many other countries involved.

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

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

Exports in value, M $ US

Following a two-year downturn, GCC's export value of sunflower, safflower, or cottonseed oil and fractions increased in 2020, reaching $111.8 million, a sharp 32.8% rise from 2019. The lowest value was recorded in 2019 at $84.2 million, while the largest annual decline occurred in 2018 at 16.0%. Over the 2017-2020 period, exports decreased by 5.7%, with a CAGR of -1.9%.

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

The export market in value terms from 2017 to 2020 was broad, with Jordan, Yemen, and Iran contributing 14.9%, 3.5%, and 2.5% of exports, respectively. Together, these three countries accounted for just 20.9% of total flows, while the remaining 79.1% was distributed among numerous other nations, highlighting a wide and varied export base.

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

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

Imports sunflower, safflower or cottonseed oil and fractions to GCC

Imports in kind, K t

GCC's import volume of sunflower, safflower, or cottonseed oil and fractions grew for the second consecutive year in 2020, totaling 337,600 tons, a 15.8% increase from 2019. Imports were at their lowest in 2018 at 266,100 tons, which also saw the largest annual decline of 4.8%. From 2017 to 2020, imports increased by 20.7%, with a CAGR of 6.5%.

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

From 2017 to 2020, Ukraine, Russia, and Turkey were the primary sources for GCC's imports of sunflower, safflower, or cottonseed oil and fractions in kind, with shares of 53.2%, 22.3%, and 7.3%, respectively. Combined, these three countries dominated the market, accounting for 82.8% of total import flows.

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

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

Imports in value, M $ US

In 2020, GCC's import value of sunflower, safflower, or cottonseed oil and fractions stood at $314.0 million, a 14.8% rise compared to 2019. The lowest value was recorded in 2019 at $273.5 million, which also experienced the largest annual decline of 7.1%. Between 2017 and 2020, imports increased by 12.9%, equating to an annualized growth rate of 4.1%.

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

Throughout 2017-2020, Ukraine, Russia, and Turkey led GCC's imports of sunflower, safflower, or cottonseed oil and fractions in value terms, with shares of 48.6%, 19.6%, and 7.6%, respectively. Together, they accounted for 75.8% of total import flows, underscoring their significant role in the supply chain.

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

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