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

Earlier Report Observations

The sunflower, safflower, or cottonseed oil market in Western Asia began the period at 2 692 thousand tons in 2018, supported by price stability due to favorable weather conditions in key global producing regions like Ukraine and Russia. This stability helped maintain accessible supply. In 2019, the market volume expanded by 9% to 2 943 thousand tons, driven by continued good harvests in those regions which bolstered global availability. The following year, 2020, saw a slight stabilization with market size edging down to 2 900 thousand tons.

A significant contraction occurred in 2021, as the market fell by 15% to 2 461 thousand tons. The subsequent rebound in 2022 was sharp, with volume growing 16% to 2 855 thousand tons. This recovery was shaped by major geopolitical disruptions, specifically the war in Ukraine and associated sanctions on Russia, which constrained traditional Black Sea supplies and prompted a shift toward alternative import sources. The market continued its upward trajectory in 2023, reaching 2 939 thousand tons, a 3% increase, under the continued influence of supply pressures and adjusted global production forecasts due to the ongoing conflict.

Moving into 2024, several developments framed the market landscape, including the stabilization of global sunflower seed production, the launch of new value-added products like vitamin-fortified organic sunflower oil, and significant trade policy adjustments in the European Union that reduced sunflower oil imports by 25% due to slower demand and improved domestic output.

Production sunflower, safflower or cottonseed oil and fractions in Western 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

Western Asia's production of sunflower, safflower, or cottonseed oil and fractions has grown for the third year in a row. In 2020, the region produced 1 426 thousand tonnes, marking a 1.2% increase from the previous year. Looking at the period from 2017 to 2020, production rose by 18.1%, which translates to an average annual growth rate of 5.7%.

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

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

Exports in kind, K t

The export market for these oils and fractions in Western Asia experienced volatility during the observed period. Exports hit their lowest point in 2018 at 258 thousand tonnes, then surged to a peak of 722 thousand tonnes in 2020, representing a 2.8-fold increase. The year 2020 alone saw a dramatic jump of 110.8% compared to 2019. The most significant decline occurred in 2018, with a drop of 58.9%.

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

From 2017 to 2020, Western Asia's exports of sunflower, safflower, or cottonseed oil and fractions reached a diverse range of buyers. Key destinations included Djibouti (12.8% of exports in volume), Libya (3.7%), and Somalia (2.7%), which together accounted for 19.3% of total exports. Many other countries also contributed smaller but notable shares, reflecting a broad market portfolio.

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

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

Exports in value, M $ US

Export values for these oils and fractions from Western Asia have increased for the second consecutive year. In 2020, exports totaled 864 million US dollars, a sharp rise of 44.0% from the previous year. Over the 2017-2020 period, export value grew by 20.6%, with an annualized rate of 6.5%. The lowest value was recorded in 2018 at 562 million US dollars, and the largest decline that year was 21.5%.

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

During 2017-2020, the export value of sunflower, safflower, or cottonseed oil and fractions from Western Asia was distributed across numerous markets. Djibouti (12.3% of export value), Libya (3.9%), and Somalia (2.5%) were among the top recipients, but together they made up only 18.7% of total flows, indicating a wide spread of buyers.

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

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

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

Imports in kind, K t

Imports of these oils and fractions into Western Asia have risen for the third year in a row. In 2020, import volume reached 2 196 thousand tonnes, up 17.0% from the previous year. From 2017 to 2020, imports increased by 50.9%, with an annualized growth rate of 14.7%.

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

Between 2017 and 2020, Ukraine (36.0% of import volume), Russia (34.5%), and Bosnia and Herzegovina (3.6%) consistently led as the main sources for imports into Western Asia. Together, these three countries accounted for 74.2% of total import flows.

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

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

Imports in value, M $ US

After a two-year decline, import values for sunflower, safflower, or cottonseed oil and fractions in Western Asia rebounded. In 2020, imports amounted to 1 944 million US dollars, showing a sharp increase of 29.2% compared to the previous year. Over the 2017-2020 period, import value grew by 3.8%, with a compound annual growth rate of 1.3%. The lowest value was in 2019 at 1 504 million US dollars, and the largest drop occurred in 2018 with a 16.5% decline.

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

From 2017 to 2020, Russia (35.8% of import value), Ukraine (31.9%), and Bosnia and Herzegovina (4.0%) held the largest shares in the import value of these oils and fractions into Western Asia. Combined, they represented 71.7% of total import flows.

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

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