IndexBox has just published a new report: ‘World – Sunflower Seed – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

This year, sunflower seed prices are forecast to remain stable due to record global production, which is to reach the highest level of 57.3M tonnes.

Sunflower seed prices are projected to remain stable due to a significant increase in global production this year. The average sunflower seed price in the U.S. is estimated at $32 per cwt ($630 per tonne) in February 2022 (IndexBox estimates based on USDA data).

This year, global sunflower seed output is to rise by 20% y/y to 57.3M tonnes, the highest level ever. Favourable weather should further stimulate production growth in Ukraine and Russia. Last year, Ukraine’s harvests reached a record 23.2M tonnes, a 19%-increase compared to 2020. Production in Russia grew by 17% y/y, amounting to 15.5M tonnes in 2021. Higher outputs are expected in South America, where harvesting season begins. Steadily growing U.S. demand for trans-fat free high- and mid-oleic oils could stimulate farmers to expand sunflower seed acres.

Global sunflower seed exports are to rise by 4% y/y to 7.3M tonnes in 2022. The world’s ending stocks will expand by 12% y/y to 2.4M tonnes.

Global Sunflower Seed Exports by Country

In 2020, global sunflower seed exports dropped to 7M tonnes, reducing by -3.9% against 2019 figures. In value terms, supplies expanded sharply to $4.7B (IndexBox estimates).

Romania (1.5M tonnes) and Russia (1.4M tonnes) represented the largest exporters of sunflower seed worldwide, together amounting to approx. 42% of total supplies. Bulgaria (818K tonnes) occupied the following position in the ranking, followed by China (508K tonnes), France (424K tonnes), Moldova (381K tonnes) and Hungary (352K tonnes). All these countries together took approx. 36% share of total exports. Kazakhstan (257K tonnes), Argentina (206K tonnes), Ukraine (188K tonnes), Slovakia (154K tonnes), Serbia (145K tonnes) and Turkey (115K tonnes) followed a long way behind the leaders.

In value terms, the largest sunflower seed supplying countries worldwide were Romania ($699M), China ($648M) and Russia ($563M), with a combined 41% share of global exports.

In terms of the main exporting countries, Russia recorded the highest growth rate of exports, doubling the value in 2020.

Top Leading Sunflower Seed Importers Worldwide

The countries with the highest levels of sunflower seed imports in 2020 were Turkey (1,207K tonnes), Bulgaria (1,021K tonnes) and the Netherlands (762K tonnes), together recording 44% of total volume. It was distantly followed by Spain (403K tonnes), Germany (393K tonnes) and France (326K tonnes), together comprising a 16% share of total imports. Romania (251K tonnes), Portugal (223K tonnes), the Czech Republic (213K tonnes), China (181K tonnes), Italy (160K tonnes), Austria (156K tonnes) and the U.S. (156K tonnes) followed a long way behind the leaders.

In value terms, the largest sunflower seed importing markets worldwide were Turkey ($628M), Bulgaria ($498M) and the Netherlands ($366M), together comprising 31% of global imports.

Source: IndexBox Platform