Sunflower Oil

Sunflower oil is one of the major edible oils in the world, and occupies a large share in food applications. The sunflower oil supply is back on track with a record output in 2022–2023. Sunflower oil production in North America has touched around 650 million pounds per year, which is significantly higher than 400 million pounds five years ago.

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    Sunflower Oil market report transcript

    Sunflower Oil Global Market Outlook

    • Sunflower oil demand is expected to witness an increase in the short term, owing to increasing domestic consumption in India and China

    • The Black sea region is expected to provide a strong fillip to sunflower seed production

    • The dry Russian crop weather is expected to offset the increase in crop acreage

    Sunflower Oil Demand Market Outlook

    • Demand is estimated to stay supported in 2023, due to an increase in consumption from India and China. The rising demand for bottled sunflower oil from importers is expected to keep bottled sunflower oil prices steady. In China, reduced soybean crushing is anticipated to support the demand for edible oils.

    Global Sunflower Oil Supply–Demand Analysis

    Market Outlook: 2022–2023

    • The major sunflower oil-producing regions are Ukraine, Russia, the EU, Argentina, and Turkey, among others. The combined production of Ukraine and Russia is close to 60 percent of the global production

    • Global production and consumption of sunflower oil from 2017–2018 to 2021–2022 grew at a CAGR of 3.46 percent and 3.20 percent, respectively

    • The global production of sunflower oil is expected to rise in 2022–2023, with an anticipated surge in seed production in Ukraine, Russia, and the EU

    • The sunflower crushing of Ukraine is forecasted to rise by 10–20 percent in 2022–2023 versus the previous year

    Global Sunflower Oil Trade Dynamics

    • Ukraine and Russia are the largest exporters of sunflower oil in the world, accounting for nearly 80 percent of the exports, followed by the EU and Argentina. More than 30 nations rely on Russia and Ukraine for sunflower oil exports

    • The largest importers include India, China, and the EU as per the projections for 2022-2023. Indian imports account for nearly 23 percent of the global imports

    Sunflower Oil Exports by Country (2021–2022)

    • Ukraine continues to be the largest exporter of sunflower oil in the world with 6.5 MMT, followed by Russia, EU and Argentina

    • India continues to be the largest importer of sunflower oil, with 2.7 MMT, and most of it is used in food application

    • The Chinese imports of sunflower oil has increased in the recent past as the domestic crushing of soybean decreased sharply and dependence on alternatives fueled higher imports. The scarcity of palm oil also added to the increase in sunflower oil imports

    • While the Russian sunflower oil exports are projected to rise by 44 percent in 2021-2022 versus the previous marketing year, the dry weather has cast a shadow on the projected volumes

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