ASEAN: Safflower Seed Market 2024

Safflower Seed Market Size in ASEAN

The ASEAN safflower seed market surged to $X in 2022, rising by X% against the previous year. Over the period under review, consumption enjoyed a resilient expansion. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Safflower Seed Production in ASEAN

In value terms, safflower seed production surged to $X in 2022 estimated in export price. Overall, production recorded a significant increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The country with the largest volume of safflower seed production was Indonesia (X tons), comprising approx. X% of total volume. Moreover, safflower seed production in Indonesia exceeded the figures recorded by the second-largest producer, Myanmar (X tons), threefold.

In Indonesia, safflower seed production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Myanmar (X% per year) and Singapore (X% per year).

Safflower Seed Exports

Exports in ASEAN

In 2022, the amount of safflower seed exported in ASEAN surged to X tons, rising by X% against the previous year. Over the period under review, exports, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, safflower seed exports surged to $X in 2022. Overall, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

Indonesia represented the major exporter of safflower seed in ASEAN, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Singapore (X tons) and the Philippines (X tons), together generating a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to safflower seed exports from Indonesia stood at X%. At the same time, Singapore (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, the Philippines (X%) illustrated a downward trend over the same period. Indonesia (X p.p.) and Singapore (X p.p.) significantly strengthened its position in terms of the total exports, while the Philippines saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Indonesia ($X) emerged as the largest safflower seed supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports.

In Indonesia, safflower seed exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, jumping by X% against the previous year. In general, the export price saw a significant expansion. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the export price figures.

Safflower Seed Imports

Imports in ASEAN

For the fifth consecutive year, ASEAN recorded growth in overseas purchases of safflower seed, which increased by X% to X tons in 2022. Over the period under review, imports posted prominent growth. The growth pace was the most rapid in 2020 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, safflower seed imports soared to $X in 2022. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

The Philippines prevails in imports structure, amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Vietnam (X tons), making up a X% share of total imports. Thailand (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to safflower seed imports into the Philippines stood at X%. At the same time, Vietnam (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Vietnam increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported safflower seed in ASEAN, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the Philippines amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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