Philippines - 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 the Philippines - 2023
Contents:
- Price for Sunflower-Seed and Safflower Oil in the Philippines (CIF) - 2022
- Price for Sunflower-Seed and Safflower Oil in the Philippines (FOB) - 2022
- Imports of Sunflower-Seed and Safflower Oil in the Philippines
- Exports of Sunflower-Seed and Safflower Oil in the Philippines
Price for Sunflower-Seed and Safflower Oil in the Philippines (CIF) - 2022
In 2022, the average sunflower-seed and safflower oil import price amounted to $2,360 per ton, jumping by 56% against the previous year. Over the period under review, the import price enjoyed a notable increase. Over the period under review, average import prices attained the peak figure at $2,495 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
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 Argentina ($3,230 per ton), while the price for Ukraine ($1,731 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bosnia and Herzegovina (+38.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Sunflower-Seed and Safflower Oil in the Philippines (FOB) - 2022
In 2022, the average sunflower-seed and safflower oil export price amounted to $457 per ton, remaining constant against the previous year. Over the period under review, the export price saw a dramatic slump. Over the period under review, the average export prices reached the maximum at $388,379 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($1,018 per ton), while the average price for exports to Switzerland ($130 per ton) was amongst the lowest.
From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-29.0%), while the prices for the other major destinations experienced a decline.
Imports of Sunflower-Seed and Safflower Oil in the Philippines
In 2022, approx. 11K tons of sunflower-seed and safflower oil were imported into the Philippines; with an increase of 12% compared with 2021 figures. Overall, imports, however, showed a noticeable slump. The pace of growth was the most pronounced in 2020 with an increase of 28%. As a result, imports reached the peak of 15K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, sunflower-seed and safflower oil imports surged to $26M in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Sunflower-Seed and Safflower Oil in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bosnia and Herzegovina | N/A | 3.4 | 4.8 | 10.9 | 79.0% |
| Malaysia | 4.8 | 4.5 | 2.2 | 3.9 | -6.7% |
| Austria | 1.2 | N/A | N/A | 3.4 | 41.5% |
| Argentina | N/A | N/A | N/A | 2.0 | 0% |
| Ukraine | 3.5 | 3.5 | 3.5 | 1.9 | -18.4% |
| Spain | 0.8 | 3.6 | 0.5 | 1.6 | 26.0% |
| Turkey | 0.8 | 0.3 | 1.7 | 0.6 | -9.1% |
| Others | 3.7 | 3.1 | 2.0 | 1.9 | -19.9% |
| Total | 14.7 | 18.4 | 14.8 | 26.0 | 20.9% |
Top Suppliers of Sunflower-Seed and Safflower Oil to the Philippines in 2022:
- Bosnia and Herzegovina (4.6K tons)
- Malaysia (1.8K tons)
- Austria (1.2K tons)
- Ukraine (1.1K tons)
- Spain (0.7K tons)
- Argentina (0.6K tons)
- Turkey (0.2K tons)
Exports of Sunflower-Seed and Safflower Oil in the Philippines
In 2022, approx. 3.1 tons of sunflower-seed and safflower oil were exported from the Philippines; which is down by -50% against the previous year. Over the period under review, exports continue to indicate a sharp decrease.
In value terms, sunflower-seed and safflower oil exports fell remarkably to $1.4K in 2022. Overall, exports saw a precipitous decline.
| Export of Sunflower-Seed and Safflower Oil in the Philippines (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Canada | N/A | 1,062 | 0% | ||
| Switzerland | N/A | 261 | 0% | ||
| India | 791 | 26.0 | -96.7% | ||
| South Korea | 112 | 4.0 | -96.4% | ||
| Bahrain | 148 | N/A | 0% | ||
| Others | 1,790 | 67.0 | -96.3% | ||
| Total | 2,841 | 1,420 | -50.0% | ||
Top Export Markets for Sunflower-Seed and Safflower Oil from the Philippines in 2022:
- Switzerland (2009.0 kg)
- Canada (1043.0 kg)
- South Korea (17.0 kg)
- India (11.0 kg)
This report provides an in-depth analysis of the market for sunflower-seed and safflower oil in the Philippines. 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:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- 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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