Sunflower, safflower or cottonseed oil and fractions market in Portugal

Earlier Report Observations

The Portuguese market for sunflower, safflower, and cottonseed oil expanded from 123.3 thousand tons in 2018 to 147.3 thousand tons in 2019. This growth was driven by increasing consumer preference for high-oleic sunflower oil, valued for its health benefits and thermal stability. The market was also supported by industrial players like Sovena, which purchased sunflower seeds for biodiesel production, reinforcing the domestic supply chain.

Market volume dipped to 132.2 thousand tons in 2020 but recovered to 138.0 thousand tons by 2021. During this period, demand remained robust for organic and cold-pressed oils, and new brands entered the market, catering to health-conscious consumers. The adoption of high-oleic sunflower oil continued to rise, thanks to its similarity to olive oil and cooking performance.

The outbreak of war in Ukraine in 2022 disrupted supply chains, causing shortages and price spikes, which led to a decline in market volume to 130.6 thousand tons. By 2023, the market partially rebounded to 135.7 thousand tons as importers diversified sources and consumer preference for high-oleic and organic oils persisted. Investments in local production capacity and regulatory focus on sustainability further shaped the market landscape in subsequent years.

Production sunflower, safflower or cottonseed oil and fractions in Portugal

In kind, 2018-2021, K t

From 2018 to 2021, Portugal ranked 24th globally in the production volume of sunflower, safflower, or cottonseed oil and fractions.

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

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

Portugal's production of sunflower, safflower, or cottonseed oil and fractions declined for the second year in a row. In 2021, the country produced 76.1 K t, showing a significant contraction of 23.3% compared to the previous year. Between 2018 and 2021, production decreased by 19.7%, which translates to an annualized rate of 7.1%. The highest production level was recorded in 2019 at 104.6 K t, with the largest increase of 10.3% also occurring that year.

Annual dynamics of production in Portugal in kind, 2018-2021, K t

Exports sunflower, safflower or cottonseed oil and fractions from Portugal

Exports in kind, t

Exports of sunflower, safflower, or cottonseed oil and fractions from Portugal declined for the third consecutive year. In 2021, exports reached 30 470 t, marking a robust reduction of 11.2% year-over-year. Over the period from 2018 to 2021, exports decreased by 31%, with a compound annual growth rate (CAGR) of -11.6%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, t

From 2018 to 2021, the three largest markets for Portugal's exports in kind were Spain, South Africa, and Angola, which together accounted for 78.2% of total flows.

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

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, M $ US

Portugal's export value of sunflower, safflower, or cottonseed oil and fractions increased for the second year in a row. In 2021, exports amounted to 44.1 M $ US, representing a steep gain of 37.1% from the previous year. Over the period from 2018 to 2021, exports increased by 7.2%, with a CAGR of 2.3%. The lowest value was recorded in 2019 at 28.7 M $ US, with the largest decline of 30.2% also occurring that year.

Annual dynamics of product's exports from Portugal in value, 2018-2021, M $ US

From 2018 to 2021, Spain (51.8% of exports in value terms), South Africa (18.0%), and Angola (6.7%) were the primary buyers of sunflower, safflower, or cottonseed oil and fractions from Portugal, jointly accounting for 76.6% of total exports in value terms.

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

World map of product's exports from Portugal in value, 2018-2021

Imports sunflower, safflower or cottonseed oil and fractions to Portugal

Imports in kind, t

In 2021, Portugal's imports of sunflower, safflower, or cottonseed oil and fractions amounted to 92 288 t, marking an abrupt increase of 37.2% over the past year. Between 2018 and 2021, imports increased by 27.2%, equating to an annualized rate of 8.3%. The lowest import volume was recorded in 2020 at 67 257 t, with the largest decline of 13.5% also occurring that year.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, t

Throughout 2018–2021, Spain (47.1% of imports in kind), Ukraine (24.2%), and Moldova (14.0%) remained the main sources for Portugal's imports of sunflower, safflower, or cottonseed oil and fractions, jointly taking 85.3% of total flows.

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

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, M $ US

There were noticeable fluctuations in market performance during the period. Import volumes varied significantly, with the lowest point in 2020 and the highest in 2021, showing a two-fold difference between these years. In 2021, Portugal's imports of sunflower, safflower, or cottonseed oil and fractions reached 130.1 M $ US, marking an increase of 103.8% from 2020. The minimum value was recorded in 2020 at 63.9 M $ US, with the largest decline of 5.9% also occurring that year.

Annual dynamics of product's imports to Portugal in value, 2018-2021, M $ US

Over 2018–2021, Spain (52.7% of imports in value terms), Ukraine (22.0%), and Moldova (11.5%) remained the leading sources in Portugal's import structure by value, with a combined share of 86.2% of total flows.

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

World map of product's imports to Portugal in value, 2018-2021