Sunflower seeds market in Latin America and the Caribbean

Earlier Report Observations

The sunflower seeds market in Latin America and the Caribbean increased from 3.9 million tons in 2018 to 4.1 million tons in 2019, supported by rising global demand for sunflower oil due to consumer preference for healthy foods and technological advances in seed breeding and coating that boosted yields.

Supply chain disruptions from the COVID-19 pandemic contributed to a market contraction to 3.0 million tons in 2020. Recovery followed from 2021, aided by investments from major players like Corteva Agriscience to expand production capacity, and was accelerated in 2022 when the conflict in Ukraine tightened global sunflower seed and oil supplies, prompting a significant expansion of sunflower planting area in Brazil.

Market volume surged to 5.4 million tons in 2023, driven by a record planted area of 46,393 hectares in Brazil and continued infrastructure investments in seed processing and storage. Expansion continued into 2024, with a focus on genetic innovation and sustainability, though the market remained sensitive to global price fluctuations and geopolitical tensions.

Production sunflower seeds in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of sunflower seeds, 2017-2020

World map of production of sunflower seeds, 2017-2020

After two years of growth, sunflower seed production in Latin America and the Caribbean declined. In 2019, production reached its peak at 4 147 thousand tons, but by 2020 it had fallen to 3 152 thousand tons, representing a 24.0% decrease from the previous year. Over the period from 2017 to 2020, production dropped by 17.2%, which translates to an average annual decline of 6.1%. The largest year-on-year increase occurred in 2019, with a rise of 7.3%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

Exports sunflower seeds from Latin America and the Caribbean

Exports in kind, K t

Sunflower seed exports from Latin America and the Caribbean have increased for the third consecutive year. In 2020, exports reached 214.0 thousand tons, marking a significant 72.8% jump from 2019. From 2017 to 2020, exports surged by 307.1%, averaging an annual growth rate of 59.7%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

Between 2017 and 2020, Turkey, France, and Spain were the top destinations for sunflower seed exports from Latin America and the Caribbean. Turkey accounted for 22.0% of exports in volume, France for 21.8%, and Spain for 14.5%. Together, these three countries made up 58.3% of total export flows.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Sunflower seed export revenues from Latin America and the Caribbean have risen for the second year in a row. In 2020, exports were valued at 128.6 million US dollars, up 17.0% from 2019. Over the 2017-2020 period, export revenues grew by 46.8%, with an average annual increase of 13.7%. The lowest value was recorded in 2018 at 82.0 million US dollars, which saw a decline of 6.3%. In contrast, 2019 experienced the largest increase, with a 34.0% rise.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, France, the United States, and Spain were the leading destinations for sunflower seed exports from Latin America and the Caribbean in value terms. France accounted for 25.9% of export value, the United States for 14.3%, and Spain for 11.1%. Combined, these three countries represented 51.2% of total export flows.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports sunflower seeds to Latin America and the Caribbean

Imports in kind, K t

In 2020, sunflower seed imports into Latin America and the Caribbean amounted to 39.1 thousand tons, showing a 12.8% increase compared to the previous year. Over the 2017-2020 period, imports grew by 31.1%, with an average annual rate of 9.4%. The highest import volume was in 2018 at 44.7 thousand tons, which saw a 50.0% increase. However, imports fell by 22.5% in 2019.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

Between 2017 and 2020, the United States, Bulgaria, and Canada were the largest suppliers of sunflower seeds to Latin America and the Caribbean in volume terms. The United States contributed 13.8% of imports, Bulgaria 12.6%, and Canada 3.6%. Together, these three countries accounted for 30.0% of total import flows.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

In 2020, sunflower seed imports into Latin America and the Caribbean were valued at 49.8 million US dollars, remaining nearly unchanged from 2019. Over the 2017-2020 period, the lowest value was recorded in 2018 at 47.8 million US dollars, which saw a 3.9% decline. The highest value was in 2019 at 50.0 million US dollars, with a 4.6% increase.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

The structure of sunflower seed imports into Latin America and the Caribbean in value terms from 2017 to 2020 shows a diversified set of trading partners. The United States accounted for 24.9% of import value, Bulgaria for 9.6%, and Canada for 2.3%. Together, these three countries made up only 36.8% of total flows, with the remaining 63.2% spread across numerous smaller markets.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020