MERCOSUR: Safflower Seed Market 2024

Safflower Seed Market Size in MERCOSUR

The MERCOSUR safflower seed market fell slightly to $X in 2022, stabilizing at the previous year. Over the period under review, consumption showed a abrupt decrease. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Safflower Seed Production in MERCOSUR

In value terms, safflower seed production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Argentina (X tons) constituted the country with the largest volume of safflower seed production, comprising approx. X% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Argentina amounted to X%.

In 2022, the average yield of safflower seed in MERCOSUR declined to X kg per ha, remaining stable against the previous year. The yield indicated perceptible growth from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, safflower seed yield decreased by X% against 2019 indices. The growth pace was the most rapid in 2018 when the yield increased by X% against the previous year. The level of yield peaked at X kg per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The safflower seed harvested area shrank slightly to X ha in 2022, remaining constant against 2021 figures. In general, the harvested area showed a abrupt decline. The growth pace was the most rapid in 2016 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Safflower Seed Exports

Exports in MERCOSUR

For the fourth year in a row, MERCOSUR recorded decline in overseas shipments of safflower seed, which decreased by X% to X kg in 2022. Overall, exports saw a precipitous decrease. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, safflower seed exports contracted significantly to $X in 2022. Over the period under review, exports showed a sharp shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay was the major exporting country with an export of around X kg, which amounted to X% of total exports. It was distantly followed by Chile (X kg), comprising a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to safflower seed exports from Paraguay stood at X%. Chile (X%) illustrated a downward trend over the same period. While the share of Paraguay (X p.p.) and Chile (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest safflower seed supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was taken by Paraguay ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile stood at X%.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, declining by X% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, safflower seed export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Paraguay stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (X%).

Safflower Seed Imports

Imports in MERCOSUR

In 2022, overseas purchases of safflower seed decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, safflower seed imports reduced notably to $X in 2022. In general, imports faced a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2022. The following importers - Argentina (X kg) and Chile (X kg) - each recorded a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to safflower seed imports into Brazil stood at X%. Chile experienced a relatively flat trend pattern. Argentina (X%) illustrated a downward trend over the same period. Brazil (X p.p.) significantly strengthened its position in terms of the total imports, while Argentina saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported safflower seed in MERCOSUR, comprising X% of total imports. The second position in the ranking was held by Argentina ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Chile (X% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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