Vietnam - Sunflower-Seed And Safflower Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Sunflower-Seed and Safflower Oil in Vietnam - 2021
Contents:
- Price for Sunflower-Seed and Safflower Oil in Vietnam (CIF) - 2022
- Price for Sunflower-Seed and Safflower Oil in Vietnam (FOB) - 2022
- Imports of Sunflower-Seed and Safflower Oil in Vietnam
- Exports of Sunflower-Seed and Safflower Oil in Vietnam
Price for Sunflower-Seed and Safflower Oil in Vietnam (CIF) - 2022
The average sunflower-seed and safflower oil import price stood at $1,272 per ton in 2022, which is down by -19.1% against the previous year. In general, the import price recorded a slight decrease. The most prominent rate of growth was recorded in 2021 an increase of 39%. As a result, import price attained the peak level of $1,572 per ton, and then fell sharply in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($2,266 per ton), while the price for the United States ($954 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Sunflower-Seed and Safflower Oil in Vietnam (FOB) - 2022
The average sunflower-seed and safflower oil export price stood at $1,443 per ton in 2022, falling by -4.9% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 24%. As a result, the export price attained the peak level of $1,711 per ton. From 2016 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($1,973 per ton), while the average price for exports to Singapore ($992 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+1.6%), while the prices for the other major destinations experienced a decline.
Imports of Sunflower-Seed and Safflower Oil in Vietnam
In 2022, approx. 12K tons of sunflower-seed and safflower oil were imported into Vietnam; growing by 46% compared with the previous year. In general, imports, however, recorded a abrupt slump.
In value terms, sunflower-seed and safflower oil imports skyrocketed to $15M in 2022. Overall, imports recorded a relatively flat trend pattern.
Import of Sunflower-Seed and Safflower Oil in Vietnam (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 8.8 | 12.4 | 9.4 | 9.4 | 2.2% |
Ukraine | N/A | N/A | 0.1 | 2.2 | 2100.0% |
Turkey | 0.9 | 1.2 | 1.2 | 1.2 | 10.1% |
New Zealand | 0.8 | 2.5 | 1.0 | 0.7 | -4.4% |
Spain | 0.1 | 0.1 | 0.3 | 0.6 | 81.7% |
Thailand | N/A | 0.1 | 0.1 | 0.5 | 123.6% |
United States | 3.8 | 0.6 | 0.3 | 0.1 | -70.3% |
Others | 0.7 | 1.0 | 0.7 | 0.7 | 0.0% |
Total | 15.1 | 17.9 | 13.1 | 15.5 | 0.9% |
Top Suppliers of Sunflower-Seed and Safflower Oil to Vietnam in 2022:
- Malaysia (8.1K tons)
- Ukraine (1.6K tons)
- Turkey (0.7K tons)
- Thailand (0.4K tons)
- New Zealand (0.3K tons)
- Spain (0.3K tons)
- United States (0.1K tons)
Exports of Sunflower-Seed and Safflower Oil in Vietnam
In 2022, the amount of sunflower-seed and safflower oil exported from Vietnam expanded sharply to 43 tons, with an increase of 10% against 2021. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 525%. As a result, the exports attained the peak of 45 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, sunflower-seed and safflower oil exports rose modestly to $62K in 2022. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 657%. The exports peaked in 2022 and are expected to retain growth in years to come.
Export of Sunflower-Seed and Safflower Oil in Vietnam (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Cambodia | 0.3 | 8.0 | 28.6 | 27.6 | 351.4% |
Singapore | 2.9 | 23.4 | 25.5 | 12.5 | 62.7% |
Denmark | N/A | N/A | N/A | 8.0 | 0% |
Sweden | N/A | N/A | N/A | 5.3 | 0% |
Lao People's Democratic Republic | N/A | 0.5 | 1.4 | 1.4 | 67.3% |
South Korea | 0.8 | 5.7 | 1.4 | 1.3 | 17.6% |
Germany | 3.3 | 0.8 | N/A | N/A | -75.8% |
Costa Rica | N/A | 12.6 | N/A | N/A | 0% |
Others | N/A | 4.7 | 1.8 | 5.5 | 8.2% |
Total | 7.4 | 55.7 | 58.8 | 61.6 | 102.7% |
Top Export Markets for Sunflower-Seed and Safflower Oil from Vietnam in 2022:
- Cambodia (20.7 tons)
- Singapore (12.6 tons)
- Denmark (4.1 tons)
- Sweden (3.0 tons)
- Lao People's Democratic Republic (1.0 tons)
- South Korea (0.9 tons)
This report provides an in-depth analysis of the market for sunflower-seed and safflower oil in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 268 - Oil of Sunflower Seed
- FCL 281 - Oil of Safflower Seed
Country coverage:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Over the past year, the prices for sunflower oil have doubled, against robust demand and depleting sunflower seed stocks. The dry weather conditions negatively affected the sunflower crop yield in 2020, but the market is now seeing a sturdy recovery. The production of sunflower oil is forecast to increase in 2021 driven by strong demand that promotes investments in the expansion of harvested areas.
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