Apr 21, 2025
IndexBox has just published a new report: Australia – Crude Sunflower-Seed And Safflower Oil – Market Analysis, Forecast, Size, Trends And Insights.
Driven by growing demand, the market is expected to experience a slight rise in performance, with a projected CAGR of +1.0% in volume and +1.2% in value from 2024 to 2035. By the end of 2035, the market volume is estimated to reach 45K tons and the market value to hit $51M in nominal prices.
Market Forecast
Driven by rising demand for crude sunflower-seed and safflower oil in Australia, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.0% for the period from 2024 to 2035, which is projected to bring the market volume to 45K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.2% for the period from 2024 to 2035, which is projected to bring the market value to $51M (in nominal wholesale prices) by the end of 2035.
ConsumptionAustralia’s Consumption of Crude Sunflower-Seed And Safflower Oil
In 2024, the amount of crude sunflower-seed and safflower oil consumed in Australia soared to 41K tons, jumping by 42% compared with 2023 figures. In general, consumption, however, showed a perceptible downturn. Over the period under review, consumption attained the maximum volume at 62K tons in 2013; however, from 2014 to 2024, consumption failed to regain momentum.
The value of the market for crude sunflower-seed and safflower oil in Australia soared to $45M in 2024, growing by 30% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a noticeable setback. As a result, consumption reached the peak level of $84M. From 2023 to 2024, the growth of the market remained at a somewhat lower figure.
ProductionAustralia’s Production of Crude Sunflower-Seed And Safflower Oil
In 2024, approx. 14K tons of crude sunflower-seed and safflower oil were produced in Australia; surging by 3% compared with 2023. Over the period under review, production, however, continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2021 when the production volume increased by 22% against the previous year. Crude sunflower-seed and safflower oil production peaked at 21K tons in 2013; however, from 2014 to 2024, production failed to regain momentum.
In value terms, crude sunflower-seed and safflower oil production totaled $22M in 2024 estimated in export price. Overall, production, however, saw a abrupt downturn. The growth pace was the most rapid in 2022 with an increase of 49%. Crude sunflower-seed and safflower oil production peaked at $45M in 2013; however, from 2014 to 2024, production stood at a somewhat lower figure.
ImportsAustralia’s Imports of Crude Sunflower-Seed And Safflower Oil
In 2024, the amount of crude sunflower-seed and safflower oil imported into Australia surged to 28K tons, rising by 70% compared with the year before. Overall, imports, however, recorded a pronounced downturn. The growth pace was the most rapid in 2022 when imports increased by 74%. Imports peaked at 41K tons in 2013; however, from 2014 to 2024, imports remained at a lower figure.
In value terms, crude sunflower-seed and safflower oil imports soared to $30M in 2024. In general, imports, however, saw a pronounced downturn. The pace of growth appeared the most rapid in 2022 with an increase of 127% against the previous year. As a result, imports attained the peak of $73M. From 2023 to 2024, the growth of imports remained at a somewhat lower figure.
Imports By Country
In 2024, Argentina (28K tons) was the main crude sunflower-seed and safflower oil supplier to Australia, accounting for a approx. 100% share of total imports.
From 2013 to 2024, the average annual growth rate of volume from Argentina stood at -3.5%.
In value terms, Argentina ($30M) constituted the largest supplier of crude sunflower-seed and safflower oil to Australia.
From 2013 to 2024, the average annual rate of growth in terms of value from Argentina totaled -4.0%.
Import Prices By Country
In 2024, the average import price for crude sunflower-seed and safflower oil amounted to $1,094 per ton, dropping by -13.2% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38%. Over the period under review, average import prices reached the peak figure at $1,830 per ton in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Argentina.
From 2013 to 2024, the rate of growth in terms of prices for Ukraine amounted to +4.4% per year.
ExportsAustralia’s Exports of Crude Sunflower-Seed And Safflower Oil
In 2024, approx. 627 tons of crude sunflower-seed and safflower oil were exported from Australia; dropping by -25.2% compared with 2023 figures. Overall, exports, however, saw a strong increase. The growth pace was the most rapid in 2016 with an increase of 1,456%. The exports peaked at 1.1K tons in 2017; however, from 2018 to 2024, the exports failed to regain momentum.
In value terms, crude sunflower-seed and safflower oil exports shrank rapidly to $921K in 2024. Over the period under review, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2016 when exports increased by 884%. The exports peaked at $1.7M in 2017; however, from 2018 to 2024, the exports remained at a lower figure.
Exports By Country
New Zealand (622 tons) was the main destination for crude sunflower-seed and safflower oil exports from Australia, with a approx. 99% share of total exports.
From 2013 to 2024, the average annual rate of growth in terms of volume to New Zealand stood at +67.8%.
In value terms, New Zealand ($910K) also remains the key foreign market for crude sunflower-seed and safflower oil exports from Australia.
From 2013 to 2024, the average annual rate of growth in terms of value to New Zealand totaled +43.3%.
Export Prices By Country
In 2024, the average export price for crude sunflower-seed and safflower oil amounted to $1,469 per ton, which is down by -5.2% against the previous year. Overall, the export price recorded a pronounced contraction. The most prominent rate of growth was recorded in 2022 an increase of 66% against the previous year. As a result, the export price attained the peak level of $2,886 per ton. From 2023 to 2024, the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for New Zealand.
From 2013 to 2024, the rate of growth in terms of prices for France amounted to +40.3% per year.