In 2023, Ukraine remained the leading exporter of sunflowerseed oil, accounting for over 44% of global exports, showing a modest annual increase. Russia followed with nearly 17%, while the Netherlands and Argentina also held significant shares in the market. Noteworthy, countries such as the United Arab Emirates and Belarus showed rapid growth in their export volumes. Conversely, some countries like Belgium and Germany showed modest increases, while others like Mexico and Slovakia saw declines. Several countries' export volumes remained stable, with minimal or no year-on-year change. Overall, the market observed varied trends across different regions.
Future trends to watch include the potential impact of geopolitical developments on Ukrainian and Russian export capacities. Additionally, the growing demand for vegetable oils in emerging economies might influence shifts in market dynamics, particularly affecting smaller exporters seeking to expand their global footprint. Monitoring these trends alongside environmental and regulatory changes will be crucial for stakeholders in this sector.
Top countries in Sunflowerseed Oil Export Volume Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Ukraine | 44.48 | 2023 | +1.75% | +1.83% | View data |
| 2 | 2 Russia | 16.98 | 2023 | +1.74% | +2.11% | View data |
| 3 | 3 Netherlands | 5.37 | 2023 | +3.51% | +3.61% | View data |
| 4 | 4 Argentina | 5.23 | 2023 | +2.71% | +4.72% | View data |
| 5 | 5 Hungary | 4.31 | 2023 | +1.19% | +0.83% | View data |
| 6 | 6 France | 3.25 | 2023 | +0.68% | +0.83% | View data |
| 7 | 7 Bulgaria | 2.9 | 2023 | +1.53% | -0.05% | View data |
| 8 | 8 Spain | 1.97 | 2023 | +2.65% | +3.25% | View data |
| 9 | 9 Romania | 1.61 | 2023 | +1.38% | -0.88% | View data |
| 10 | 10 Belgium | 1.19 | 2023 | +1.86% | +1.01% | View data |