ASEAN: Sunflower Seed Market 2024

Sunflower Seed Market Size in ASEAN

The ASEAN sunflower seed market rose remarkably to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, continues to indicate a perceptible decrease. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Sunflower Seed Production in ASEAN

In value terms, sunflower seed production reached $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

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

From 2012 to 2022, the average annual growth rate of volume in Myanmar stood at X%.

The average sunflower seed yield dropped to X kg per ha in 2022, almost unchanged from 2021 figures. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of yield peaked at X kg per ha in 2015; however, from 2016 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sunflower seed harvested area stood at X ha in 2022, surging by X% on the previous year's figure. In general, the harvested area, however, continues to indicate a deep downturn. Over the period under review, the harvested area dedicated to sunflower seed production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Sunflower Seed Exports

Exports in ASEAN

In 2022, shipments abroad of sunflower seed decreased by X% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, exports, however, showed a mild expansion. The growth pace was the most rapid in 2018 when exports increased by X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, sunflower seed exports reduced markedly to $X in 2022. Overall, exports continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand represented the key exporter of sunflower seed in ASEAN, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. Vietnam (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (X%).

Exports from Thailand increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and Vietnam increased by X and X percentage points, respectively.

In value terms, Thailand ($X) remains the largest sunflower seed supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.

In Thailand, sunflower seed exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Singapore (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, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

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

Sunflower Seed Imports

Imports in ASEAN

In 2022, the amount of sunflower seed imported in ASEAN soared to X tons, growing by X% on the previous year. Over the period under review, imports posted a tangible increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sunflower seed imports surged to $X in 2022. Overall, imports continue to indicate a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Vietnam represented the major importing country with an import of around X tons, which amounted to X% of total imports. Thailand (X tons) took the second position in the ranking, followed by Indonesia (X tons), Myanmar (X tons) and the Philippines (X tons). All these countries together took near X% share of total imports. Malaysia (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the sunflower seed imports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%) and the Philippines (X%) displayed positive paces of growth. By contrast, Indonesia (X%), Malaysia (X%) and Myanmar (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (X p.p.), Indonesia (X p.p.) and Myanmar (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sunflower seed importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Indonesia ($X), with a combined X% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower seed import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Myanmar ($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 more modest paces of growth.

Source: IndexBox Platform

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