In 2023, Russia led the global export market for simply refined sunflower or safflower oil, followed by Ukraine and Hungary. These countries showcased significant year-on-year growth rates, particularly Ukraine and Bulgaria, with substantial advancements in market share. Notably, Bosnia and Herzegovina, and the Czech Republic experienced striking increases, whereas countries like Slovakia, Zambia, and Ireland saw declines. The data shows a buoyant growth trend in many emerging markets, with the United Arab Emirates and Poland benefiting from notable growth spurts.
Future trends to watch involve potential market shifts due to geopolitical factors, sustainability concerns, and diversification into alternative oil sources. Monitoring the advancements of non-traditional exporters like Malaysia and the Middle East megaregion could reveal strategic opportunities and reshaping of market dynamics in coming years.
Top countries in Export of Sunflower or Safflower Oil and Fractions Simply Refined Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Russia | 14.99 | 2023 | +3.2% | +4.48% | View data |
| 2 | 2 Ukraine | 13.5 | 2023 | +3.61% | +4.13% | View data |
| 3 | 3 Hungary | 8.92 | 2023 | +1.71% | +1.85% | View data |
| 4 | 4 France | 7.94 | 2023 | +1.4% | +0.28% | View data |
| 5 | 5 Spain | 6.48 | 2023 | +3.43% | +3.44% | View data |
| 6 | 6 Netherlands | 5.47 | 2023 | -0.1% | -0.16% | View data |
| 7 | 7 Germany | 5.27 | 2023 | +2.46% | +2.81% | View data |
| 8 | 8 Belgium | 4.95 | 2023 | +0.75% | +0.0062% | View data |
| 9 | 9 Argentina | 4.03 | 2023 | +2.62% | +2.97% | View data |
| 10 | 10 Bulgaria | 3.02 | 2023 | +4.22% | +4.35% | View data |
